(Bloomberg) -- Towers Watson & Co. postponed a shareholder meeting on the proposed merger with insurance broker Willis Group Holdings Plc as the consulting firm seeks to counter opposition to the planned $8.7 billion deal.
The meeting will be Friday in Miami Beach, Florida, rather than Wednesday, the consulting firm said in a statement distributed by Business Wire.
Towers Watson shares fell 8.8% on June 30, the day the Willis deal was announced, stoking shareholder criticism that Chief Executive Officer John Haley settled for too low of a bid. Proxy advisers Institutional Shareholder Services and Glass Lewis & Co. recommended that the consulting company’s shareholders vote against the deal that investor Driehaus Capital Management LLC had derided as a “takeunder.”
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