| 词条 | Willis Towers Watson |
| 释义 |
| name = Willis Towers Watson Public Limited Company | logo = Willis Towers Watson logo.svg | caption = | trading_name = | type = Public limited company | native_name = | native_name_lang = | traded_as = {{NASDAQ|WLTW}} S&P 500 component | ISIN = IE00BDB6Q211 | industry = | fate = | predecessors = Willis Group Towers Watson | successor = | foundation = {{Start date and years ago|2016|01|05|df=y}} | founder = | defunct = | location_city = London | location_country = United Kingdom | locations = | area_served = | key_people = John Haley (CEO), James McCann (chairman) | products = Risk management, Insurance brokerage, Advisory & Actuarial services, Human Capital & Benefits | production = | services = | revenue = | operating_income = | net_income = | aum = | assets = | equity = | owner = | num_employees = 43,000 | parent = | divisions = | subsid = | homepage = [https://www.willistowerswatson.com/ Willis Towers Watson] | footnotes = }}Willis Towers Watson is an Irish-domiciled global multinational risk management, insurance brokerage and advisory company. The firm has roots dating to 1828 and is the third largest insurance broker in the world.[1] OverviewWillis Towers Watson operates in more than 140 countries and has a workforce of more than 43,300 employees.[1] It has joined the Hedge Fund Standards Board and follows the voluntary code of standards of best practice endorsed by its members.[2] HistoryWillis Towers Watson was formed as a merger of equals between London based Willis Group Holdings plc and Arlington, VA based Towers Watson & Co.[3] Merger processRationaleThe merging companies announced the merger on June 30, 2015[4] in a deal valued at $18 billion.[3] Willis Towers Watson would maintain its domicile in Ireland lowering taxes and list on the New York Stock Exchange. Later in 2015 the company moved its domicile to Virginia in the US and delisted from The NYSE and relisted on The NASDAQ. Willis Group exercised its right to acquire the remainder of Gras Savoye and agreed to purchase 85% of Miller, the leading London independent wholesale insurance broker. CriticismCritics to the deal pointed out that the original offer would not be beneficial to Towers Watson shareholders as they would receive package of shares and a special cash dividend that is valued at $125.13 per share.[5] This value was 9.3% lower than the trading price of Towers Watson's stock as at the time of the announcement of the deal.[6] The revised offer in November increased the value to $130.26 per share, which was still lower than the trading price of Towers Watson shares at the time of the announcement. The deal also gives Willis Group shareholders more control despite the firm having a lower market capitalization compared to Towers Watson.[5] In an open letter, investment adviser Driehaus Capital Management urged Towers Watson shareholders to vote against a proposed merger.[7] Driehaus argued that Towers Watson was worth between 39% and 53% more as a standalone company than by merging with Willis Group.[8] It was also reported that Towers Watson CEO John Haley had disposed of his shares in the company in early March 2015 while the merger negotiations were ongoing.[9] On November 18, 2015, the board of Towers Watson failed to get enough investor support for the deal, with only 40% of shareholders voting in favor of the proposed merger with Willis Group.[10] This rejection led to Willis Group increasing its special cash dividend for Towers Watson shareholders to USD $10 per share. This revised offer was approved by Towers Watson shareholders on December 11, 2015.[11] CompletionThe merger was closed on 5 January 2016 once all regulatory approvals were received. Willis Towers Watson publicly announced their name change on 5 January.[12][13] Willis Group shareholders owned 50.1% while those of Towers Watson shareholders owned 49.9% of the combined company.[14] On completion, Towers Watson CEO, John Haley, became the CEO, Willis Group CEO, Dominic Casserley, became the President and Deputy CEO while Willis Group Chairman, James McCann, became the chairman of the merged group with the twelve board seats shared equally between the two companies.[15] For the first fiscal quarter of 2016, the first earnings release since the merger completed, Willis Towers Watson reported that merger and acquisition costs remain significant and are likely to total between $150 million and $175 million.[16] Three years after the merger, the company reported that cost-saving synergies have exceeded expectations, reaching $175 million versus previous estimates of $100-$125mn.[17] References1. ^1 {{Cite web|url = https://www.willistowerswatson.com/en-US/about-us/overview|title=Overview|publisher=Willis Towers Watson|access-date=30 September 2018}} 2. ^{{cite web |url= http://www.hfsb.org/ |title=HFSB Founders & Core Supporters |author=Hedge Fund Standards Board |access-date=27 September 2016}} 3. ^1 {{Cite web|url = https://www.cnbc.com/2015/06/30/willis-group-towers-watson-to-merge-in-18b-deal.html|title = Willis and Towers Watson to merge in $18B deal|date = 2015-06-30|accessdate = 2015-09-07|website = CNBC|publisher = Reuters Thomson Reuters|last = |first = }} 4. ^{{Cite web|url = http://willisandtowerswatson.mergerannouncement.com/wp-content/uploads/2015/06/Willis-Group-and-Towers-Watson-Announce-Merger-to-Create-Leading-Global-Advisory-Broking-and-Solutions-Firm.pdf|title = Willis Group and Towers Watson Announce Merger to Create Leading Global Advisory, Broking and Solutions Firm|date = June 30, 2015|accessdate = 2015-09-07|website = |publisher = Willis and Towers Watson|last = |first = }} 5. ^1 {{Cite web|url = https://www.wsj.com/articles/willis-group-towers-watson-to-merge-in-18-billion-deal-1435649451|title = Willis-Towers Watson: A Merger of Equals—Not Exactly|date = July 1, 2015|accessdate = September 15, 2015|website = The Wall Street Journal|publisher = News Corp|last = Hoffman|first = Liz|last2 = Samuel|first2 = Juliet}} 6. ^{{Cite web|url = https://finance.yahoo.com/q/hp?s=TW&a=05&b=29&c=2015&d=05&e=30&f=2015&g=d|title = Towers Watson & Co. (TW) - Historical Prices|date = 2015-06-29|accessdate = 2015-09-15|website = Yahoo! Finance|publisher = Yahoo!|last = |first = }} 7. ^{{Cite web|url = http://www.businessinsurance.com/article/20150915/NEWS06/150919875/towers-watson-shareholder-advises-against-merger-with-willis?tags=%7C338%7C70%7C71%7C285%7C83%7C329%7C302|title = Towers Watson shareholder advises against merger with Willis|date = 2015-09-17|accessdate = 2015-09-15|website = Business Insurance|publisher = Crain Communications|last = Hofmann|first = Mark A.}} 8. ^{{Cite web|url = https://blogs.wsj.com/moneybeat/2015/09/15/investor-moves-to-rally-votes-against-towers-watson-deal/|title = Investor Moves to Rally Votes Against Towers Watson Deal|date = 2015-09-15|accessdate = 2015-09-17|website = The Wall Street Journal|publisher = News Corp|last = Hoffman|first = Liz}} 9. ^{{Cite web|url = https://www.wsj.com/articles/towers-watson-ceo-sold-stock-before-big-deal-1443052212|title = Towers Watson CEO Sold Stock Before Big Deal|date = 2015-09-27|accessdate = 2015-10-02|website = The Wall Street Journal|publisher = News Corp|last = Hoffman|first = Liz}} 10. ^{{Cite web|url = https://www.wsj.com/articles/towers-watson-willis-to-adjourn-meetings-on-18-billion-merger-1447853967|title = Towers Watson, Willis Merger in Doubt as Investors Balk|date = 2015-11-18|accessdate = 2015-12-01|website = The Wall Street Journal|publisher = News Corp|last = Hoffman|first = Liz}} 11. ^{{Cite web|url = https://www.reuters.com/article/us-towers-wats-m-a-willis-idUSKBN0TU1N820151211|title = Towers Watson, Willis merger gets shareholder nod|date = December 11, 2015|accessdate = 2015-12-17|website = Reuters|publisher = Thomson Reuters|last = Flaherty|first = Michael|last2 = Subba|first2 = Nikhil|editor-last = Baum|editor-first = Bernadette|editor2-last = Dasgupta|editor2-first = Shounak}} 12. ^{{Cite web|url = http://willisandtowerswatson.mergerannouncement.com/wp-content/uploads/2015/06/Fact-Sheet.pdf|title = Willis Towers Watson - Merger Fact Sheet|date = |accessdate = 2015-09-07|website = |publisher = Willis Towers Watson|last = |first = }} 13. ^{{Cite web|url = http://www.pionline.com/article/20150713/PRINT/307139974/towers-watson-willis-merger-to-combine-strengths|title = Towers Watson, Willis merger to combine strengths|date = 2015-07-13|accessdate = 2015-09-07|website = Pensions & Investments|publisher = Crain Communications, Inc.|last = Comtois|first = James}} 14. ^{{Cite web|url = https://www.nytimes.com/2015/07/01/business/dealbook/willis-and-towers-watson-aim-to-merge-in-18-billion-all-share-deal.html?_r=0|title = Willis Group and Towers Watson to Merge|date = 2015-06-30|accessdate = 2015-09-07|website = The New York Times|publisher = The New York Times Company|last = Bray|first = Chad}} 15. ^{{Cite web|url = https://www.bloomberg.com/news/articles/2015-06-30/willis-group-and-towers-watson-agree-to-18-billion-merger|title = Willis to Merge With Towers Watson in $8.7 Billion Deal|date = 2015-06-30|accessdate = 2015-09-07|website = Bloomberg Business|publisher = Bloomberg L.P.|last = Jones|first = Sarah|last2 = Basak|first2 = Sonali}} 16. ^{{Cite web|url = http://www.businessinsurance.com/article/20160506/NEWS06/160509857/willis-towers-watson-boosts-first-quarter-2016-revenue-and-net|title = Willis Towers Watson boosts revenue, net income; merger costs ‘material’|date = 2016-05-06|accessdate = 2016-05-06|website = Business Insurance}} 17. ^{{cite news |last1=Ralph |first1=Oliver |title=Willis Towers Watson chief prepared to do more deals |url=https://www.ft.com/content/ac3985be-75f3-11e8-b326-75a27d27ea5f |accessdate=25 June 2018 |work=Financial Times |date=25 June 2018}} External links
| symbol = WLTW | sec_cik = WLTW | yahoo = WLTW | google = WLTW | bloomberg = WLTW:US }}{{NASDAQ-100}} 7 : Irish companies established in 2016|2016 establishments in England|Companies based in Stamford, Connecticut|Companies listed on NASDAQ|Financial services companies based in the City of London|Companies based in Arlington County, Virginia|Companies formed by merger |
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