Aon, Willis Towers Watson to Terminate Combination Pact (1)

Aon and Willis Towers Watson have mutually agreed to terminate their business combination agreement and end litigation with the U.S. Department of Justice.

• The Chicago-based Aon will pay the $1 billion termination fee to Willis Towers Watson
• Aon Chief Executive Officer Greg Case said the company reached an “impasse” with the DOJ that caused an “inability to secure an expedited resolution of the litigation”
• Both companies will provide more updates and outlooks on their upcoming second quarter earnings calls
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