Posts Tagged ‘Hewitt’

Hewitt to buy consulting company EnnisKnupp

Wednesday, July 21st, 2010

Lincolnshire-based Hewitt Associates, a global human resources consulting and outsourcing company, Tuesday said it entered into an agreement to acquire EnnisKnupp, a provider of investment advisory services to large institutional investors.

This acquisition will boost Hewitt’s existing investment consulting capabilities in the United States and support its global growth plans. EnnisKnupp provides investment consulting services to corporations, public funds, endowments, foundations and non-for-profits.

Once this transaction is complete, Hewitt will be one of the largest providers of investment consulting services globally with nearly $3 trillion in assets under advisement.

Financial terms were not disclosed. The transaction is subject to regulatory approval and is expected to close later this year.

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…)