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"This is a major step that demonstrates continued progress toward obtaining regulatory clearances for the proposed combination,” the insurance companies shared in a joint statement. (Credit: Brent Lewin/Bloomberg) “This is a major step that demonstrates continued progress toward obtaining regulatory clearances for the proposed combination,” the insurance companies shared in a joint statement. (Credit: Brent Lewin/Bloomberg)

The European Commission has approved the merger of Aon and Willis Tower Watson (WTW), contingent on further divestments from both firms. The deal, however, still hinges on regulatory approval from other nations, including the U.S.

“This is a major step that demonstrates continued progress toward obtaining regulatory clearances for the proposed combination,” the insurance companies shared in a joint statement. “Both firms operate across broad, competitive areas of the economy and believe this approval affirms that our proposed combination will accelerate innovation on behalf of clients, creating more choice in an already dynamic and competitive marketplace.”

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