Aon to buy Willis Towers Watson in $30bn deal

Joint firm to become largest UK pension consulting company

Aon has confirmed it will buy Willis Towers Watson in a $30bn (£23bn) all-share deal, becoming the UK's largest pension consulting firm.

The amalgamation of the two global consulting firms, respectively the world's second- and third-largest insurance brokers, is expected to deliver annual pre-tax synergies and other cost reductions of around $800m by the third full year. It is expected to complete in the first half of 2021. Based on their 2018 revenue figures, the combined firm will be the largest UK pension consulting company, with revenue of around £770m - as well as a combined equity value of approximately $80bn. Aon chief executive Greg Case said: "This combination will create a more innovative platform capable ...