Aon Drops Bid for Corroon & Black:...
- Share via
Aon Drops Bid for Corroon & Black: Aon Corp. withdrew its unsolicited $840-million bid for fellow insurer Corroon & Black Corp. after its target spurned the cash offer this week. The move allows Corroon & Black and the British insurance firm Willis Faber PLC to proceed with a proposed stock-swap merger, a deal valued at more than $750 million. Aon, the holding company for the brokerage Rollins Burdick Hunter Group Inc., offered last week to buy Corroon & Black for $40 a share in cash, or about $840 million. Corroon & Black stock fell $1.625 to $29.25 a share on the New York Stock Exchange after Aon’s announcement.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
