Aon PLC and Willis Towers Watson PLC were forced to abandon a $30 billion merger due to the Department of Justice’s belief that the merger would go against antitrust policy.
The two companies announced their decision for the merger back in March of 2020 in which the companies would combine to create the world’s largest insurance broker. The DOJ filed a lawsuit last month with the belief that the merger would result in higher prices for all who seek the services of the companies.
To counteract any antitrust investigation, Willis Towers has been selling off assets in an attempt to create bigger competitors but has had little success. The companies are scheduled to go to court in November.
Source: Financial Times