Aon will acquire Hewitt for $4.9 billion in cash and stock
By APMonday, July 12, 2010
Aon agrees to buy Hewitt for $4.9 billion
CHICAGO — Aon says it agreed to buy Hewitt Associates for $4.9 billion in cash and stock to expand its consulting operations.
The insurance broker will pay $50 per Hewitt share. That is a 41 percent premium from Hewitt’s closing price Friday of $35.40.
Aon of Chicago plans to create a new unit, Aon Hewitt, after the deal closes.
Hewitt, based in Lincolnshire, Ill., is a human resources consulting and outsourcing company.
Aon says the deal will save $355 million annually beginning in 2013.
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