Aon plc has formally withdrawn its application to the Commerce Commission for clearance to acquire Willis Towers Watson
Public Limited Company.
The Commission had been scheduled to make a decision on Aon’s clearance application by 20 August 2021.Background
Aon and Willis Towers Watson (WTW) are both publicly traded, global professional services firms that specialise in risk
management.
In New Zealand, Aon and WTW both provide a range of broking services, including for commercial risk, reinsurance, group
health and welfare benefits, and personal and life insurance. In addition, both firms provide investment consulting
services to institutional investors.
Aon had sought clearance from the Commission for a transaction that would have seen WTW become a wholly owned subsidiary
of Aon. However, the two firms announced on 26 July 2021 that they had agreed to terminate their business combination
agreement.
We will give clearance to a proposed merger if we are satisfied that the merger is unlikely to have the effect of
substantially lessening competition in a market. Further information explaining how the Commission assesses a merger
application is available on our website.