2 Consulting Firms Merge in $3.5 Billion Deal – DealBook Blog – NYTimes.com
Two management consulting firms, Towers Perrin Forster & Crosby and Watson Wyatt Worldwide, on Sunday announced an agreement to merge into a new publicly listed company called Towers Watson.
The deal, valued at about $3.5 billion, will help the companies extend their global reach, the companies said in a statement, according to Reuters.
Under the terms of the agreement, Watson Wyatt shareholders would receive 50 percent of Towers Watson shares on a fully diluted basis. Towers Perrin shareholders and some of its employees would be entitled to 50 percent of the new company’s shares on that basis, the companies said.
Watson Wyatt’s chief executive, John Haley, will be the new company’s chief, while Towers Perrin’s chief executive, Mark Mactas, will serve as its president, the statement said.
Annual revenue for Towers Watson is seen at more than $3 billion and the company said it expects about $80 million in pretax annual synergies.
“Full realization of synergies” will take three years and cost about $80 million, according to the statement.
Towers Watson will also have significant noncash expenses during the first two years after the transaction is completed, the companies said. The transaction is expected to add to diluted per-share earnings within three years following the consummation of the deal.
via 2 Consulting Firms Merge in $3.5 Billion Deal – DealBook Blog – NYTimes.com.
Related Websites - Obama Says "We Buy Ugly Houses"! Source: Miz Duke As everyone knows the only thing wrong...
- 5 Tips to Get More People to Read Your Corporate Blog The whole point of creating a corporate blog is to...
- What Happens When a Mutual Fund Goes Out of Business? Like any business, times can get tough. Once a company...
- Apple (NASDAQ:AAPL) iPhone Coming To Verizon in 2011 Apple’s (NASDAQ:AAPL) iPhone will start being sold by Verizon Wireless...
- Obama State of the Union Speech Focuses on Economy [/caption] President Obama said change is not easy and he...
