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Towers Watson-Willis Merger: Battle to Save a Dubious Deal

I still hope they take my advice and rename the Sears Tower so that the sign reads Willis Towers Tower…

Willis Towers Tower

Willis Towers Tower…

I still hope they take my advice and rename the Sears Tower so that the sign reads Willis Towers Tower…

Making The Same Mistakes
Making The Same Mistakes

A marriage of convenience isn’t necessarily bad—it just lacks the excitement of a true match.

Towers Watson & Co. may have reached that point in life where its peers have paired off and the clock is ticking. Its investors are being sweet-talked into going along.

The cash portion of the proposed cash-and-shares merger offer from insurance broker Willis Group Holdings PLC was more than doubled Thursday to $10 per share, ahead of delayed shareholder votes for both companies on Friday.

That helps to close the valuation gap that made this deal look poor for investors in Towers Watson, a benefits and human resources firm, and prompted proxy voting firms ISS and Glass Lewis to advise against it.

The trouble in this supposed merger of equals has always been that Towers Watson’s investors get less in Willis stock and cash than their own shares are worth.

(click here to continue reading Towers Watson-Willis Merger: Battle to Save a Dubious Deal – WSJ.)

A Matter of Degree
A Matter of Degree

Willis Tower Is A Pale Reflection
Willis Tower Is A Pale Reflection

Willis Over Union Station
Willis Over Union Station

Lego Willis Tower
Lego Willis Tower

Is Chivalry Dead? - Ilford Delta 3200
Is Chivalry Dead? – Ilford Delta 3200

In Front of Willis Tower
In Front of Willis Tower

It Makes Perfect Sense
It Makes Perfect Sense

Nothing Ever Stays The Same -platinum version
Nothing Ever Stays The Same -platinum version

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