Final Report of the Hearing Officer (Case M.9829 – Aon/Willis Towers Watson)
Date: 2021-07-02
Institutions: Directorate-General for Competition, European Commission
Subjects: broker, economic concentration, healthcare industry, information analysis, investment company, merger control, pension scheme, personnel administration, reinsurance, risk management








C_202404361EN.000101.fmx.xml












Official Journal of the European Union


EN
C series













C/2024/4361


4.7.2024






Final Report of the Hearing Officer (1)

(Case M.9829 – Aon/Willis Towers Watson)
(Text with EEA relevance)
(C/2024/4361)

On 16 November 2020, the Commission received a notification pursuant to Article 4 of the Merger Regulation (2) of a proposed concentration by which Aon plc (the ‘Notifying Party’) would acquire control of Willis Towers Watson Public Limited Company (‘WTW’), within the meaning of Article 3(1)(a) of the Merger Regulation, by way of acquisition of the entirety of the issued and outstanding shares of WTW (the ‘Proposed Transaction’).
On 21 December 2020, the Commission initiated proceedings pursuant to Article 6(1)(c) of the Merger Regulation (‘Article 6(1)(c) Decision’).
On 12 January 2021, the Notifying Party submitted written comments on the Article 6(1)(c) Decision.
On 9 February 2021, the Commission adopted a decision pursuant to Article 11(3) of the Merger Regulation, requiring the Parties to supply information that had been the object of an earlier request for information. This decision suspended the time limit referred to in Article 10(3) of the Merger Regulation, pursuant to Article 10(4) of the Merger Regulation.
Between 25 February and 5 March 2021, I admitted two undertakings showing a sufficient interest pursuant to Article 18(4) of the Merger Regulation as interested third persons in this case.
On 9 April 2021, the Commission informed the Notifying Party that the suspension of the time limit referred to in Article 10(3) of the Merger Regulation had come to an end on that date, following the Parties' submission of the required information on that date.
On 9 April 2021, the Notifying Party submitted commitments in accordance with Article 8(2) of the Merger Regulation in order to address the competition concerns identified by the Commission.
On 12 April 2021, the Commission launched a market test of these commitments.
On 13 April 2021 and 3 May 2021, the Commission extended the deadline for the Commission’s investigation, by 10 working days and 5 working days respectively, following requests by the Notifying Party pursuant to Article 10(3), second subparagraph, third sentence, of the Merger Regulation.
On 12 May 2021, the Notifying Party submitted revised commitments pursuant to Article 8(2) of the Merger Regulation.
The draft decision declares the Proposed Transaction compatible with the internal market and the EEA Agreement, subject to full compliance with the revised commitments.
Overall, I consider that the effective exercise of procedural rights has been respected during the present proceedings.


Brussels, 2 July 2021.

Dorothe DALHEIMER
               





(1)  Pursuant to Articles 16 and 17 of Decision 2011/695/EU of the President of the European Commission of 13 October 2011 on the function and terms of reference of the hearing officer in certain competition proceedings (OJ L 275, 20.10.2011, p. 29) (‘Decision 2011/695/EU’).

(2)  Council Regulation (EC) No 139/2004 of 20 January 2004 on the control of concentrations between undertakings (OJ L 24, 29.1.2004, p. 1) (‘Merger Regulation’).


ELI: http://data.europa.eu/eli/C/2024/4361/oj
ISSN 1977-091X (electronic edition)