(Reuters) – Insurance broker Aon PLC is set to receive conditional EU antitrust approval for its $ 30 billion bid for Willis Towers Watson PLC without having to offer more concessions, said people familiar with the matter.
Aon, who reached the deal a year ago to create the world's largest insurance broker, ahead of Marsh & McLennan Cos. Inc., offered concessions to the European Commission earlier this month.
Following feedback from rivals and customers last week, EU competition managers have applied for some adjustments but it is unlikely it will require more concessions, the people said.
Aon could have faced a charge called a statement of objections showing the EU's concern if the market feedback had been negative and if it had then refused to offer more concessions. This is not the case now, the people said.
The concession package includes the sale of a number of Willis assets, including its reinsurance arm and its German pension benefits and consulting business, people with direct knowledge of the matter have told Reuters. [1
Willis' entire real estate / accident business portfolio serving large multinational companies in these four countries. and other European assets to serve these customers, as well as its financial and professional lines, will also be sold.
The Commission and Aon declined to comment.