Watson Wyatt and Towers Perrin to merge
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.
Recommended for you
The corporate regulator has cancelled the AFSL of a Perth advice firm with the firm having previously seen its licence temporarily suspended in 2020.
Private equity giant TA Associates has made a strategic investment of an undisclosed sum into a major Australian wealth and investment player.
Shaw and Partners chief executive, Earl Evans, has said the firm is seeking to double the assets under management at its latest New Zealand acquisition ISG, having made the “left field” decision to embark on overseas M&A.
Advice licensee Count has seen an appeal filed to a class action against it which was dismissed earlier this year.
