NU Online News Service, Sept. 29, 12:40 p.m. EDT
The European Commission (EC) has approved Aon Corporation's proposed acquisition of Hewitt Associates, finding that the transaction "would not significantly impede effective competition in the European Economic area (EEA) or any substantial part of it."
The EC said it investigated markets where global broker Aon and human resource consulting and outsourcing solutions firm Hewitt have overlapping activities, "in particular the areas of retirement benefits consulting and investment consulting services to pension funds."
The EC determined that market shares of the combined firm "would be modest post-transaction, and a sufficient number of credible competitors would remain after the proposed transaction."
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