(Bloomberg) — Towers Watson & Co. won shareholder approval for an $8.9 billion merger with Willis Group Holdings Plc after negotiating better terms with the insurance broker.
Willis investors supported the combination with the Arlington, Virginia-based consulting firm in a separate meeting Friday, according to a joint statement from the companies that didn't disclose tallies. Shares of both companies jumped in New York trading.
"We are confident that combining Towers Watson and Willis will accelerate both companies' long-term strategies and create substantial incremental value for shareholders," Towers Watson Chief Executive Officer John Haley said in the statement.
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