Aon to pay $1B to WTW for the cancellation. They didn’t want to keep fighting the litigation from the DOJ.
Wasn’t sure where to put this topic, so mods please move if there is a more appropriate area.
That’s a fast way to make 1 B
Market with basically 3 sellers, second largest decides to buy the third and DOJ says it’s anticompetitive.
Clearly the DOJ misunderstands the business.
I didn’t realize this never happened in the first place.
well good. too many damn mergers of pension firms (mostly looking at you WTW or whatever you’re called now)!
If it were a bad thing, people would just create a competing brokerage and price lower right?
…right?
1 Like
Don’t know how this will impact the Pat Ryan reconquista. He now has 3 targets to acquire instead of 2.
Same thing with Standard Oil
I’ve moved this to the Professional Area. You can look under the title to see it’s “new location”.
Good. Such a stupid idea that benefits no one.
naw…there are plenty of barriers to entry…you can’t just start up “Colonel’s Finger Lickin’ Good Insurance Brokerage”.
1 Like
It’s easy, all you gotta do is call up Masayoshi Son to get that sweet VC money. We can call the new company WeBroke.
3 Likes
Why didn’t I think of that?
I laughed way too much at this:
https://www.facebook.com/ActuarialMeme/posts/1867213206772948
6 Likes
well, merging with marsh would also have been. so two things.
1 Like
Probably not too startling that the $1b payout is being used on buybacks
WTW sells Willis Re to Gallagher for $3-4B:
1 Like
Now to speculate who WTW is looking to buy…
They’re gonna buy Aon. #2 buying #3 is anti-competitive, but #3 buying #2 is a triumph of small businesses!
4 Likes
Take that DOJ!
tiger?