Towers Watson & Co. plans to increase the price of its $18 billion merger with Willis Group Holdings PLC after failing to get enough shareholder support for the original terms, according to The Wall Street Journal.
The professional services company plans to roughly double a special dividend that is currently $4.87 per share in an effort to get a majority of its shareholders to vote in favor of the deal, WSJ reported.
A vote of Towers Watson shareholders fell short on Wednesday and was adjourned until Friday. A vote of Willis’s shareholders, whose support is also needed, was rescheduled for Friday. Willis is a European insurance broker.
Full content: The Wall Street Journal
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