EC confirms “Phase II” review of $70bn+ Aon-WTW deal; Aon says still confident of H1 2021 closure

Aon says it still remains on track to complete its acquisition of Willis Towers Watson in H1 2021 despite the European Commission (EC) announcing today that it has initiated a “Phase II review” of the transaction, which increases the likelihood that it may insist on changes to the deal structure including potential divestitures.