AON - Aon and Willis Towers confirm deal to sell assets to Arthur J. Gallagher for $3.57B

Aon plc (AON) confirmed an agreement to sell Willis Towers (WLTW) Willis Re and and a set of Willis Towers Watson corporate risk and broking and health and benefits services to Arthur J. Gallagher (AJG) for $3.57B.The deal resolves question raised by the European Commission in its review of Aon's planned Willis Towers deal and also is intended to address some questions raised by regulators in other jurisdictions, according to a statement. The deal is still awaiting formal approval from the  EC and U.S. antitrust approval.News of deal was reported by Bloomberg on Friday.Last month Insurance Insider reported that the U.S. Department of Justice is demanding U.S. and Bermudian Willis disposals in order to approve the AON combination.

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Aon and Willis Towers confirm deal to sell assets to Arthur J. Gallagher for $3.57B