The Willis Towers Watson merger saga is over
Willis and Towers Watson completed their merger in early January 2016 and became Willis Towers Watson (WTW). The go-ahead decision on the USD 18 billion deal was made by shareholders in an early December 2015 vote, after the terms were changed in several increments during the preceding five months as Towers Watson shareholders were unhappy with the terms offered. Driven by both firms’ management, the deal had been announced on June 30, 2015.
WTW expects to generate annually USD 375 to 675 million in additional revenue and USD 100 to 125 million in cost savings in addition to USD 75 million in tax savings compared to 2014 pro-forma revenues of USD 7.30 billion and net income of USD 400 million.
WTW’s 39,000 employees in 120-plus countries are organized in four business segments — corporate risk and broking; exchange solutions; human capital and benefits; and investment, risk and reinsurance — and currently serve 80% of the world’s 1,000 largest companies.
The leadership team includes previous chairman and CEO of Towers Watson John Haley as WTW’s CEO and previous Willis CEO Dominic Casserley as WTW’s president and deputy CEO.
The board of directors includes six members from each company and is chaired by James McCann, previously chairman of Willis.
WTW is listed on the U.S. NASDAQ stock market as WLTW – the WTW ticker sign belongs to … Weight Watchers International!
The combined firm’s website is www.willistowerswatson.com . For those who wonder, wtw.com belongs to a German electronics manufacturer.