Aon, Hewitt expect to complete merger by early October

LINCOLNSHIRE, Ill.—Aon Corp. and Hewitt Associates Inc. said Friday that they expect Aon’s acquisition of Hewitt to be completed on or about Oct. 1.

Earlier this week, shareholders of Chicago-based Aon and Lincolnshire, Ill.-based Hewitt voted overwhelmingly in favor of the deal.

As part of the transaction, Hewitt shareholders will receive a combination of cash and Aon stock totaling $4.9 billion based on the July 9 closing price of Aon's shares.

Once the transaction is completed, Aon said it plans to integrate Hewitt and its Aon Consulting unit and change the name of the consulting operations to Aon Hewitt.

Aon has not yet said where Aon Hewitt will be based. Russ Fradin will be Aon Hewitt’s chairman and CEO, the same titles he now holds at Hewitt.

Aon Hewitt will have about 29,000 employees and will generate about $4.3 billion in annual revenue.