(Bloomberg) -- Willis Group Holdings Plc, the third-largest insurance broker, agreed to better terms for Towers Watson & Co. shareholders in a proposed merger after the consulting firm’s investors said that a June agreement was inadequate.
The one-time cash dividend will be $10 a share, compared with $4.87 under the previous offer, Towers Watson said in a statement Thursday. The latest agreement values the consulting firm at about $8.9 billion, based on Wednesday’s closing price for Willis.
The consulting firm had postponed a shareholder vote that was scheduled for Nov. 18 amid opposition from some proxy- advisory firms and investors to the deal, which was valued at about $8.7 billion when it was announced on June 30. Towers Watson shares fell 8.8% that day, and investor Driehaus Capital Management LLC later faulted the accord as a “takeunder.” A vote on the new terms will occur by Dec. 16, Arlington, Virginia-based Towers Watson said.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
