Aon agrees merger with Hewitt Associates
Aon Corporation has agreed a merger with HR consulting and outsourcing firm, Hewitt Associates, in a $4.9 billion cash and shares deal.
Hewitt will merge with a subsidiary of Aon and be integrated into the group’s existing consulting and outsourcing operations under a newly created Aon Hewitt brand.
The firm’s chairman and chief executive officer, Russ Fradin, will serve as chairman and chief executive officer of Aon Hewitt, reporting to Greg Case, chief executive officer, Aon Corporation.
The companies are intent on creating a global leader in human capital solutions, with diverse product and service capabilities.
Commenting on the move, Mr Case said: “As we continue to grow our business, this merger will give us a broader portfolio of innovative products and services focused on what we believe are two of the most important topics in the global economy today – risk and people.”
Hewitt’s Mr Fradin added: “This combination allows us to provide even more services for our clients and greater opportunities for our associates.”
Aon Hewitt will have 29,000 associates globally and revenues of $4.3 billion.
Category: Aon News, Employment News, Insurance News
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