Press Release: Mergers: Commission clears proposed merger of Towers Perrin and Watson Wyatt, subject to conditions

The European Commission has approved under the EU Merger Regulation the proposed merger between US-based consultancy companies Towers Perrin and Watson Wyatt. The approval is conditional upon the parties' commitment to divest Watson Wyatt's life actuarial software business, VIPitech. The Commission had concerns that the transaction, as originally notified, would have raised competition issues in the field of actuarial software for life insurance in the European Economic Area (EEA). In the light of the commitments offered by the parties, the Commission has now concluded that the proposed transaction would not significantly impede effective competition in the EEA or any substantial part of it.