Willis deal with HRH given go ahead
Willis Group Holdings Limited has been granted the approval of the US Federal Trade Commission to acquire Hilb Rogal & Hobbs with a shortened waiting period, under the provisions of the Hart-Scott-Rodino Antitrust Improvements Act.
Willis announced its intention to combine both firms back on 8 June, a deal which is now predicted to be completed in Q4 of this year.
However, the transaction remains subject to approval from other parties, including regulators and Hilb Rogal & Hobbs’ shareholders.
Joe Plumeri, Willis’ chairman and chief executive officer, has welcomed the Federal Trade Commission’s decision to allow the waiting period to be shortened, adding that he believes growth and client value will both be improved by the deal.
Willis North America will see its revenues and Employee Benefits business double under the deal, and its leadership bolstered in lucrative growth areas of the US.
Category: Insurance News
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