Towers Watson doubles special dividend to $10

(Reuters) — Financial services provider Towers Watson & Co. more than doubled its special dividend after shareholders rejected its $18 billion merger with insurance broker Willis Group Holdings P.L.C.

Towers Watson said it would raise the one-time cash dividend to $10 per share from $4.87.

Willis was considering raising its offer for Towers Watson, Reuters reported on Wednesday, citing a person with knowledge of the matter.

The increased offer would come in the form of a larger special dividend for shareholders of Towers Watson, the person said, who spoke on condition of anonymity.