Why the Department of Justice Shut Down This Megamerger
When two giants in the insurance brokerage space agreed to a megamerger back in March 2020, the Department of Justice (DOJ) stepped in to take a closer look. Aon (NYSE: AON) and Willis Towers Watson (NASDAQ: WLTW) had come to a $30 billion merger agreement that would've created the world's largest insurance broker. The two insurers ended up calling off the deal late last month after the DOJ filed a lawsuit in June to stop the deal.
The merger shutdown is the latest example of the Biden administration's increasing scrutiny of big businesses this year, and it represents a change in attitude after years of lax antitrust enforcement. The increasing crackdown on deals with antitrust and anticompetitive implications could have ripple effects for a number of publicly traded companies.
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Source Fool.com
