© Reuters. FILE PHOTO: An office building with the Aon logo can be seen in Sydney
BRUSSELS (Reuters) – EU antitrust authorities have closed their investigation into Aon (NYSE 🙂 's $ 30 billion bid for Willis Towers Watson (NASDAQ 🙂 while they wait for US insurance broker to cover the case provides the necessary data.
The European Commission, which opened its investigation in December over concerns about creating the world's largest insurance broker, could hurt competition in key markets, said it stopped the clock on Monday.
"This procedure in merger investigations is activated if the parties do not provide important information in time that the Commission has requested from them," said a spokeswoman for the EU competition authorities.
"Once the missing information has been provided by the parties, the clock will restart and the deadline for the Commission's decision adjusted accordingly," she said.
Aon declined to comment.
The previous deadline for the EU's decision on the agreement was May 10th. The EU investigation opened after Aon refused to make concessions during the Commission's preliminary review.
The merged company would overtake the current world market leader Marsh & McLennan Companies Inc (NYSE :).
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