Teneo Strategy and Sard Verbinnen & Co. work the $18B "merger of equals" between Britain's Willis Group Holdings and Towers Watson of Arlington.
Dominic Casserley, Willis CEO, said the merger in a single stroke "fast-tracks each company's growth strategy and offers a truly compelling value proposition to our clients."
Willis shareholders will own 50.1 percent of Willis Towers Watson, which will generate a combined $8.2B in revenues from re/insurance broking, human resources consulting and risk management.
WTW will serve more than 80 percent of the global top-1,000 companies.
The Wall Street Journal today cast doubt on the merger of equals positioning. It noted that TW shareholders would receive a package of shares and special dividends worth $125.13 compared to the stock's June 29 closing of $137.98.
TW's shares are now trading at $129.74.
Teneo handles Willis, while Sard Verbinnen represents TW.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
Intelligent Group Ltd, a Hong Kong-based financial PR firm, has priced its initial public offering of 1.9M shares at $4, which is the low end of the $4 to $5 range.
Kekst CNC represents Grant Thornton as it sells a majority stake in its US arm to New Mountain Capital, which relies on Goldin Solutions, in what is billed as the largest PE investment in the accounting and advisory sector.
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