Aon’s acquisition of Hewitt clears waiting period

By Associated Press
Posted Aug. 24, 2010 at 9:48 a.m.

Insurance broker Aon Corp. said Tuesday a required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. has expired for its $4.9 billion acquisition of human resources specialist Hewitt Associates Inc.

The company said it still must receive foreign regulatory approvals and approval by the stockholders of both Aon and Hewitt before the transaction can close.

Aon announced the cash-and-stock deal in July.

The acquisition would nearly triple the size of Aon’s consulting business and would dramatically expands its push into human resources consulting worldwide.

Aon is the world’s largest insurance broker but trails rival Marsh & McLennan Co., whose subsidiaries include Mercer and Oliver Wyman Group, in the size of its consulting business.

Shares of Aon fell 5 cents to $36.87 in morning trading, while Hewitt’s stock was unchanged at $48.61.


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