AJG - U.K.'s CMA to investigate Arthur J. Gallagher deal to buy Willis Re

The U.K. antitrust authority opens an investigation into the proposed acquisition of Willis Towers Watson's (NASDAQ:WLTW) treaty reinsurance business by Arthur J. Gallagher (NYSE:AJG), the Competition and Markets Authority said on its website. The CMA has opened the matter for comment and set a deadline of Nov. 29, 2021, for its phase 1 decision. In August, AJG agreed to acquire its Willis Re unit from Willis Towers Watson (WLTW) for $3.25B. That deal was reached after the two companies terminated an earlier one for a broader set of WLTW's businesses after Aon's merger pact with Willis Towers Watson fell apart in July.

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U.K.'s CMA to investigate Arthur J. Gallagher deal to buy Willis Re