Aon, Willis Towers Watson shareholders approve takeover

Shareholders of both brokerages voted to approve Aon PLC’s proposed acquisition of Willis Towers Watson PLC on Wednesday, the companies said in a statement.

The deal, which is expected to close in the first half of 2021, is still subject to regulatory approval.

The combination of the two companies, which was announced in March after a lengthy courtship by Aon, would create the world’s largest insurance brokerage, based on 2019 revenue.

Under the terms of the deal, Willis Towers Watson shareholders will receive 1.08 Aon shares in exchange for each Willis Towers Watson share.

The purchase of Willis Towers Watson would extend Aon’s lead in several broking segments, particularly reinsurance, but in July Aon said it expects the deal to be approved without regulators requiring divestitures.