Summary
Aon plc (AON) filed an 8-K on August 26, 2020, detailing the results of its extraordinary general meeting (EGM) held on August 25, 2020. The primary purpose of the EGM was to seek shareholder approval for the proposed acquisition of Willis Towers Watson Public Limited Company (WTW). Shareholders overwhelmingly approved the issuance of new shares required for the transaction, with a significant majority voting in favor. Additionally, shareholders approved a proposal to allow the EGM chair to adjourn the meeting if necessary to gather more proxies. However, this adjournment provision was not ultimately needed as the primary resolution passed with sufficient votes. This EGM outcome is a crucial step forward in Aon's strategy to combine with WTW, signaling strong shareholder support for the transformative deal.
Key Highlights
- 1Shareholders overwhelmingly approved the ordinary resolution to issue Aon shares as consideration for the acquisition of Willis Towers Watson (WTW).
- 2The vote on the issuance of shares for the WTW transaction saw strong support, with over 197 million 'For' votes versus approximately 1.4 million 'Against' votes.
- 3A second resolution to allow for adjournment of the EGM if needed to solicit more proxies was also approved.
- 4The adjournment resolution was not required as the primary resolution to approve the WTW deal consideration received sufficient votes.
- 5The EGM confirmed the presence of a quorum in accordance with Irish law and company articles.
- 6The company issued a joint press release with WTW on August 26, 2020, announcing these voting results.