Posts Tagged ‘Citigroup’

Aon To Buy Hewitt For $4.9 Billion To Expand Consulting Business

Monday, July 12th, 2010

Insurance broker Aon Corp. announced its acquisition of human-resources consulting and outsourcing company Hewitt Associates Inc. for $4.9 billion in cash and stock to expand its consulting business.

Aon will pay $50 per Hewitt share, representing a 41 percent premium to Hewitt’s closing stock price of $35.40 on Friday.

Aon plans to integrate Hewitt with its existing consulting and outsourcing operations and operate the segment under the newly created Aon Hewitt brand, the company said.

“This merger will give us a broader portfolio of innovative products and services focused on what we believe are two of the most important topics in the global economy today – risk and people,” Aon chief executive Greg Case said on Monday. (more…)