Willis upsizes share buyback to $4bn after Aon-WTW merger fail

Broker  Willis Towers Watson (WTW) has upsized its share buyback programme for the second time since the  break-up of its $30 billion merger deal with rival  Aon.

The company's board of directors has approved an increase to the existing share repurchase authority in the amount of $4 billion.

The $4 billion increase is in addition to the $500 million remaining on the current open-ended repurchase authority.

On the day its merger with Aon was terminated, WTW announced a $1 billion increase to its existing share repurchase programme in order to boost its investment in organic and inorganic growth opportunities over the next few years.

The company is authorised to repurchase shares, by way of redemption or otherwise, and stated that it would do so from time to time "based on many factors, including market and economic conditions, applicable legal requirements and other business considerations".

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