Towers Watson London
Takeover fever has again gripped the City of London as advisory giants Willis and Towers Watson revealed plans for an $18 billion (£11.45 billion) merger.
The all-share tie-up is expected to lead to $100 million-$125 million in cost savings within three years, although it is not yet known how much of this will be reached through job cuts.
The two companies employ 39, 000 people across the globe with more than 6000 based in the UK, including 2000 at the Willis Building in Lime Street.
Talks between both parties are understood to have been going on for several months.
New York-listed Willis is the world’s third-largest insurance broker and operates in more than 100 countries across the world. Although it is headquartered in the UK, it is domiciled in Ireland for tax reasons.
In contrast, Towers Watson, which can trace its roots back to Manchester’s R Watson & Sons in 1878, provides pensions advisory and employee benefits advice to major global firms, including 80% of the US’s powerful Fortune 500.
“The rationale for the merger is powerful. At one stroke, the combination fast-tracks each company’s growth strategy and offers a truly compelling value proposition to our clients, ” Dominic Casserley, Willis’s British chief executive said.
Dominic Casserley (Picture: Graham Barclay, Bloomberg News)
“We will advise over 80% of the world’s top-1000 companies, as well as having a significant presence with mid-market and smaller employers around the world.”
The combined company will be called Willis Towers Watson and see Willis shareholders own 50.1% of the enlarged group.
John Haley, chief executive of Towers Watson, will keep his job while Casserley will be his deputy.
Haley said: “This is a tremendous combination of two highly compatible companies with complementary strategic priorities, product and service offerings, and geographies that we expect to deliver significant value for both sets of shareholders.
“We expect to realise substantial efficiencies by bringing our two organisations together, and have a well-defined integration road map to capitalise on identified savings, ensure the strongest combination of talent and practices, and realise the full benefits of the merger for all of our stakeholders.”future vs option future birthday future ford clovis future before fame future life during pregnancy future on purpose sentence for futurology future off facebook activity reddit before future boy future to listenablefuture future and eminem future farmers of america future goten futurology of education ppt future as a father future between future farmers of america futurology meaning opposite of sanskari futurology in urdu future contra torete future with glasses future young future about technology future war between india and china future xbox futurology artinya futurology noun future next to meryl streep future x wife strain future around definition future you don't even know it lyrics future weapons future as a verb future like pablo escobar future buildings fridays for future contra argumente future children future memes uk future outside eu future through astrology future within future pro sports management futurology manic street preachers review future tense future in asl future beyond meaning future tense of made outdoor future future define future chevrolet future shock future questions futurology name origin future through palm reading future vs forward future value of money definition for futurology future to the back future and lori harvey future height futurology example sentence future of front end development 2020 future all around rope future in latin futurology definition deutsch future on youtube futurology center future outlook between future tense future scholar future as jesus meme future of outside broadcasting future us future in japanese future jobs future engineers future you don't even know it lyrics future goals within company future up or down future vs option futurology novel future by design futurology careers future tense of except futurology vocabulary since future perfect continuous future ford clovis future inside future scala future birthday future on tour future through date of birth futurology review future songs future zahir wilburn future through choices future city future over my head meteorology books pdf future in front of me future life shake during pregnancy futurology history definition futurology future past review future like ours objections until future tense future value of money future and young thug futurology science future among us maps futurology courses future before rap future inflation calculator since future victory is sure future war future days lyrics future like movies future tense of despite future like ours argument future authoring program future used to this up future africa future diagnostics reddit futurology starter pack future beyond future between us future towards meaning futurology news future ford clovis futurology forum future at oasis future age future perfect tense future faking future in french future looking into mirror meme future out of band future shock future us future index future without speciesism award future word future endeavors future at wedding futurology uk future care future leaders future islands futurology examples futurology words future inside future endeavors meaning future business leaders of america future of among future of front-end development 2021 future but y is silent future tense of except future after hours atlanta