DUBLIN, Dec. 21, 2020 /PRNewswire/ -- Aon plc (NYSE:
AON), a leading global professional services firm providing a broad
range of risk, retirement and health solutions, confirmed today
that the European Commission (EC) has initiated a Phase II review
in connection with its combination with Willis Towers Watson Public
Limited Company. The Phase II review is a common next step in the
review process for a transaction of this size and complexity under
EU Merger Regulation and the firm remains on track to close the
combination in the first half of 2021.
As stated previously, Aon's and Willis
Towers Watson's businesses are complementary, operating
across broad, very competitive areas of the economy, and Aon
remains confident of a positive outcome without any divestitures.
Aon expected a thorough review of this combination and will
continue to work closely with all the relevant regulators,
including the EC. The firm looks forward to continuing its dialogue
with the EC throughout the Phase II review process.
About Aon
Aon plc (NYSE: AON) is a leading global professional services
firm providing a broad range of risk, retirement and health
solutions. Our 50,000 colleagues in 120 countries empower
results for clients by using proprietary data and analytics to
deliver insights that reduce volatility and improve
performance.
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Forward-Looking Statements
This communication contains
certain statements that are forward-looking, as that term is
defined in the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are prospective in nature and are not
based on historical facts, but rather on current expectations of
management about future events. Forward-looking statements can
often, but not always, be identified by the use of words such as
"plans," "expects," "is subject to," "budget," "scheduled,"
"estimates," "forecasts," "potential," "continue," "intends,"
"anticipates," "believes," or variations of such words, and
statements that certain actions, events or results "may," "could,"
"should," "would," "might" or "will" be taken, occur or be
achieved.
Although management believe that the expectations reflected in
these forward-looking statements are reasonable, it can give no
assurance that these expectations will prove to be correct. By
their nature, forward-looking statements involve risks and
uncertainties because they relate to events and depend on
circumstances that will occur in the future. There are a number of
factors that could cause actual results and developments to differ
materially from those expressed or implied by the forward-looking
statements. Such factors include, but are not limited to, the
possibility that the proposed combination will not be consummated
in the expected timeframe, or at all, failure to obtain necessary
regulatory approvals, to comply with the requirements of such
approvals or to satisfy any of the other conditions to the proposed
combination, adverse effects on the market price of Aon and/or
Willis Towers Watson securities and
on Aon's and/or Willis Towers
Watson's operating results for any reason, including,
without limitation, because of a failure to consummate the proposed
combination, the failure to realize the expected benefits of the
proposed combination (including anticipated revenue and growth
synergies) in the expected timeframe, or at all, the failure to
effectively integrate the combined companies following consummation
of the proposed combination, negative effects of an announcement of
the proposed combination, changes in global, political, economic,
business, competitive, market and regulatory forces, future
exchange and interest rates, changes in tax laws, regulations,
rates and policies, future business acquisitions or disposals, or
any announcement relating to the proposed consummation of or
failure to consummate the proposed combination on the market price
of Aon and/or Willis Towers Watson
securities, significant transaction and integration costs or
difficulties in connection with the proposed combination and/or
unknown or inestimable liabilities, potential litigation associated
with the proposed combination, the potential impact of the
consummation of the proposed combination on relationships,
including with suppliers, customers, employees and regulators, and
general economic, business and political conditions (including any
epidemic, pandemic or disease outbreak) that affect the combined
companies following the consummation of the proposed
combination.
The factors identified above are not exhaustive. Aon and its
subsidiaries operate in a dynamic business environment in which new
risks may emerge frequently. Other unknown or unpredictable factors
could also cause actual results and developments to differ
materially from those expressed or implied by the forward-looking
statements. Forward-looking statements should therefore be
construed in the light of such factors. You are cautioned not to
place undue reliance on any forward-looking statements, which speak
only as of the date made.
Further information concerning Aon and its businesses, including
economic, competitive, governmental, regulatory, technological and
other factors that could materially affect Aon's results of
operations and financial condition, is contained in Aon's filings
with the Securities and Exchange Commission (SEC). See Aon's Annual Report on Form 10-K for the
year ended December 31, 2019, Aon's
Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020, June 30,
2020 and September 30, 2020,
and additional documents filed by Aon with the SEC, the contents of
which are not incorporated by reference into, nor do they form part
of this communication, for a further discussion of these and other
risks and uncertainties applicable to Aon's businesses.
Any forward-looking statements in this communication are based
upon information available as of the date of this communication
which, while believed to be true when made, may ultimately prove to
be incorrect. Other than in accordance with legal or regulatory
obligations, Aon is under no obligation, and expressly disclaims
any intention or obligation, to update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise. All subsequent written and oral
forward-looking statements attributable to Aon and/or any person
acting on its behalf are expressly qualified in their entirety by
the foregoing paragraphs, and the information contained on any
websites referenced in this communication is not incorporated by
reference into this communication.
Statement Required by the Irish Takeover Rules
The
directors of Aon accept responsibility for the information
contained in this communication relating to Aon and the directors
of Aon and members of their immediate families, related trusts and
persons connected with them. To the best of the knowledge and
belief of the directors of Aon (who have taken all reasonable care
to ensure that such is the case), the information contained in this
communication for which they accept responsibility is in accordance
with the facts and does not omit anything likely to affect the
import of such information.
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SOURCE Aon plc