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TWP Trex CO., Inc.

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Delayed by 15 minutes
Share Name Share Symbol Market Type
Trex CO., Inc. NYSE:TWP NYSE Ordinary Share
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.00 -

EU Clears US Consultancies Watson Wyatt,Towers Perrin Merger

04/12/2009 9:22am

Dow Jones News


Trex (NYSE:TWP)
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The European Commission Friday cleared the merger of the two largest human-resources consulting firms in the US, Towers Perrin Forster & Crosby Inc. and Watson Wyatt Worldwide Inc. (WW), but the firms must sell Watson Wyatt's life insurance actuarial software business as a condition.

The firms offered to sell the business, VIPitech, to ease the commission's concerns that the merger would reduce the number of actuarial software providers for life insurance in Europe to two from three.

The combined company, to be called Towers Watson & Co., will be publicly listed.

The merger will create the world's biggest employee-benefits consultancy, displacing the Mercer unit of Marsh & McLennan Cos., according to Shlomo Rosenbaum, an analyst at Stifel, Nicolaus & Co.

-By Peppi Kiviniemi, Dow Jones Newswires; +3227411483; peppi.kiviniemi@dowjones.com

 
 

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