Latham & Watkins Advises Aon in Agreements to Sell US Retirement Business and Aon Retiree Health Exchange™ Business
Aon plc (NYSE: AON), a leading global professional services firm providing a broad range of risk, retirement, and health solutions, has announced that the firm has signed definitive agreements to sell its US retirement business to an affiliate of Aquiline Capital Partners and its Aon Retiree Health Exchange™ business to Alight for total gross consideration of US$1.4 billion. The agreements are intended to address certain questions raised by the US Department of Justice in relation to the announced combination of Aon and Willis Towers Watson with respect to the markets in which these businesses are active. Aon and Willis Towers Watson continue to work toward obtaining additional regulatory approval in all relevant jurisdictions.
Latham & Watkins LLP is advising Aon on both of the transactions as well as on the combination of Aon and Willis Towers Watson.
The corporate deal team advising on the sale of Aon’s US retirement business is led by New York and Orange County partner Charles Ruck and Chicago partners Bradley Faris and Max Schleusener, with associates Matthew Dixon, Henna Jalal, Chad Leiper, and Carlyle Reid. Washington, D.C. partner Nicholas DeNovio and Los Angeles partner Larry Stein, with associates Pierce Pandolph and Sam Yang, advised on tax matters; Washington, D.C. partners Marc Williamson and Ian Conner, with associate Tara Tavernia, advised on antitrust matters; New York partner Jennifer Pepin, with associates Daniel Gocek and Samantha Voutyras, advised on benefits and compensation matters; and New York partner Jeffrey Tochner and counsel Carrie Girgenti, with associate Max Miroff, advised on intellectual property matters.
The corporate deal team advising on the sale of the Aon Retiree Exchange™ business is led by New York and Orange County partner Charles Ruck and Chicago partners Bradley Faris and Jason Morelli, with associates Lucy Chauvin and Jonathan Snavely. Washington, D.C. partner Nicholas DeNovio, with associates Pierce Pandolph and Sam Yang, advised on tax matters; Washington, D.C. partners Marc Williamson and Ian Conner, with associate Tara Tavernia, advised on antitrust matters; New York partner Jennifer Pepin, with associates Daniel Gocek and Samantha Voutyras, advised on benefits and compensation matters; and New York partner Jeffrey Tochner and counsel Carrie Girgenti, with associate Max Miroff, advised on intellectual property matters.