Aon mulls WTW takeover plans

Aon, which has a substantial presence on Bermuda, has confirmed that a takeover of rival fellow insurance broker Willis Towers Watson (WTW) is under consideration.

The acquisition of WTW could make Aon the largest broker in the world, pushing it above current number one Marsh & McLennan Cos. However, this leading place will be temporary until MMC’s own acquisition of JLT is completed.

Aon revealed its intentions officially via Irish regulatory requirements, stating that any deal was “in the early stages” and would be made via an all-share business combination.

The company stressed that the deal was still being evaluated and there “can be no certainty that any transaction will take place nor as to the form or terms on which any transaction might be pursued”.

However, Aon included a caveat that a further announcement will be made in due course, as appropriate, and said the information had been prepared in accordance with English and Irish law and Rule 2.4 of the Irish Takeover Rules.

Shares in WTW rose by more than 8 percent on Tuesday March 5 following initial reports of the bid in the media.