The proposed mega-merger between broking giants Aon and Willis Towers Watson appears to have hit something of a snag as EU anti-trust regulators have suspended their investigation into the deal. Reuters has revealed that the regulators are waiting for the US insurance broker to provide data required for the case.
The European Commission, which started its probe into the US$30 billion bid in December of last year due to concerns that the plan to create the world’s largest insurance broker could hurt competition in major markets, halted the investigation on Monday. A spokeswoman for the EU watchdog noted that such suspensions are activated if the parties fail to provide important information requested by the Commission in a timely manner.
“Once the missing information is supplied by the parties, the clock is re-started and the deadline for the Commission’s decision is then adjusted accordingly,” she said.
Reuters reported that Aon declined to comment on the situation and highlighted that the previous deadline for the EU’s decision on the merger was May 10. The investigation was first launched after Aon declined to provide concessions during the watchdog’s preliminary review.