WLTW - Willis Towers gains after AON says 'on track' to close deal in first half of year

Willis Towers Watson (WLTW) gained 5.7% after AON (AON), which agreed to acquire Willis last year, said on its earnings conference call that it's "on track" to complete the deal in the first half of year. AON rose 6%.The transaction has had some issues with antitrust approval and AON in December confirmed of Phase II review of WLTW merger by European Commission."The businesses are complementary and operated in competitive areas of the economy," AON CFO Christa Davies said on the call. "We believe we've got the arguments and evidence to ensure positive outcome. We continue to work collaboratively with the appropriate regulators to gain approvals in a timely manner. And as we said since we announced the deal, we expect to close in the first half of 2021 and we're on track to do that."Recall Jan. 4, KBW posits on Aon selling Willis Re to gain EU approval on WLTW merger.

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Willis Towers gains after AON says 'on track' to close deal in first half of year