Broker’s shares up 3.3% in yesterday’s trading
Willis’s share price rose 3.3% in trading yesterday after the broking group announced its planned $18bn (£11bn) merger with consultants Towers Watson.
The share price closed at $46.90 yesterday, compared with Monday’s closing price of $45.40.
Before the Towers Watson deal was announced, Willis’s share price had been falling. At the end of last week it had dropped to $46.62, having started the week at $47.62. It then fell further on Monday to $45.40.
The combined entity, to be named Willis Towers Watson, will be 50.1% owned by Willis shareholders, with the remaining 49.9% held by Towers Watson’s shareholders.
It will have around 39,000 employees in more than 120 countries, and pro forma revenue of approximately $8.2bn.
The deal is expected to deliver revenue growth and cost savings of between $100m and $125m.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
No comments yet