Towers Watson continues to plead with its shareholders to vote "FOR" the proposed merger with Willis Group Holdings with the announcement that proxy advisors, Proxy Mosaic and Egan-Jones Ratings Company, have recommended that the companies do merge. This move follows a news release from Institutional Shareholder Services (ISS) and Glass, Lewis & Co last week stating that stockholders should reject the $18bn merger since they believe the price is too low. The two firms are proposing to merge in order to create one company which would be able to offer more diversified products such as life insurance, annuities and mutual funds. The deal is expected to take place on 18th November.
Towers Watson continues to plead with its shareholders to vote "FOR" the proposed merger with Willis Group Holdings with the announcement that proxy advisors, Proxy Mosaic and Egan-Jones Ratings Company, have recommended that the companies do merge. This move follows a news release from Institutional Shareholder Services (ISS) and Glass, Lewis & Co last week stating that stockholders should reject the $18bn merger since they believe the price is too low. Yesterday, ValueAct Capital Management issued an open letter to Towers Watson shareholders stating that they disagreed with ISS's recommendation. The deal is expected to take place on 18th November.