Towers Perrin, Forster & Crosby and Watson Wyatt Worldwide have announced plans to merge to form a new entity, Towers Watson & Co.
The implied equity value of the transaction will be around $3.5 billion with the new entity expected to have annual revenues in excess of $3 billion.
The new entity will be headed by Watson Wyatt’s chief executive John Haley while Towers Perrin chief executive Mark Mactas will serve as president.
Haley said the combined entity would offer its clients a bigger range of services across financial, risk and people management.
Towers Watson will operate in four geographic regions: North America, EMEA (Europe, Middle East and Africa), Asia-Pacific and Latin America.
The merger is subject to the approval of the shareholders of both companies.
