US-based insurance brokerage firm Arthur J. Gallagher is reportedly in talks to purchase certain assets from Aon and Willis Towers Watson.
The deal, if finalised, may value around $3bn, Bloomberg reported citing people familiar with the matter.
Go deeper with GlobalData
The report added that an agreement can be signed in the following weeks.
The deal is expected to include assets in Germany, Spain, France, and the Netherlands and Willis Towers’ reinsurance business.
However, the final decision is still pending and it may fall through before the agreement is signed, the sources told Bloomberg.
Representatives for Arthur J. Gallagher, Aon and Willis Towers did not confirm the development.
In March last year, Aon and Willis Towers Watson signed an agreement to merge operations in an all-stock transaction valuing $80bn.
The deal, which will create the largest insurance brokerage globally, is currently under review.
However, several regulators have raised competition and antitrust concerns over the bid.
Recently, both the companies relented to provide some concessions in order to mitigate regulatory concerns.
The talks with Arthur J. Gallagher to sell some assets are aimed to support the combination.
Last month, Arthur J. Gallagher & Co. agreed to acquire 30% stake in Middle East & North Africa (MENA) specialist insurance broker ACE.
Gallagher is an insurance brokerage, risk management and consulting services firm and has presence in around 56 countries.
