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Aon says DOJ suit shows "lack of understanding"



Late Wednesday, Aon PLC criticized the US Department of Justice's case, which sought to halt its purchase of rival Willis Towers' Watson PLC and claimed that the deal would create more choices in the market. "19659002]reflecting a lack of understanding of our business, the customers we serve and the marketplaces in which we operate," the broker said in a statement.

Earlier in the day, the department sued Aon and said the proposed acquisition would reduce competition.

According to the lawsuit, filed in the District Court of Columbia District Court, the merger of Aon and Willis "would eliminate widespread competition against the principal and likely lead to higher prices and lower innovation, harming American companies and their customers, employees and retirees." "

If the merger continues, only Marsh & McLennan Cos. Inc., which is currently the world's largest broker, can compete with the combined company," said the suit.

In his statement, Aon said the deal would " accelerate innovation "and create" more choice in an already dynamic and competitive market. "

" We continue to make significant progress with other regulators around the world and remain fully committed to the benefits of our combination, the statement said.

The deal was first announced in March 2020 and was expected to close in the first half of 2021

, however, late last year, regulators in Europe and the United States raised antitrust concerns over the merger.

To alleviate these concerns, Aon last month agreed to sell much of Willis' reinsurance business and various companies in Europe and the US to Arthur J. Gallagher & Co. Later, it agreed to sell various German pension and investment consulting companies to London-based Lane Clark & ​​Peacok LLP, its U.S. pension operations to Aquiline Capital Partners LLC and its retirees' health exchange to Alight Solutions. .

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