(Reuters) – European Union antitrust regulators have extended until July 27 the deadline for their decision on Aon PLC's $ 30 billion bid for rival Willis Towers' Watson PLC, an application from the European Commission on Wednesday.
Aon, who announced the deal a year ago to create the world's largest insurance broker, ahead of the current world 1 Marsh & McLennan Cos. Inc., offered on Friday to sell assets in five European countries to solve the EU's competition problems.
The EU antitrust watchdog is now seeking feedback from rivals and customers before deciding to demand more concessions, clear or block the deal.
Aon has offered to sell Willis Re, its largest concession, and Willis' German pension benefits and consulting business, people familiar with the matter. has told Reuters.
It is also prepared to sell Willis' insurance brokerage business in France, including the French unit Gras Savoye, as well as in Germany, Spain and the Netherlands, they said. Catalog