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Stock Market & Financial Investment News

News Breaks
August 22, 2014
17:01 EDTTWTowers Watson raises quarterly dividend, announces $300M share repurchase plan
Towers Watson announced that its Board of Directors has approved the purchase of up to $300M of the company's class A common stock and has terminated the existing share repurchase authorizations. Under this new authorization, the company will continue to offset share dilution as a result of stock based compensation programs and may make opportunistic repurchases of common stock from time to time through open-market purchases, in privately negotiated transactions or otherwise. The amount and timing of any purchases will depend upon a number of factors, including the price and availability of the company's shares and general market conditions. No time limit has been placed on the duration of the share repurchase program, and it may be discontinued at any time. The company also announced that its Board of Directors approved a regular quarterly cash dividend of 15c per common share for the quarter ended June 30. This represents a 7% increase. The dividend is payable on or about October 15 to stockholders of record at the close of business on September 30.
News For TW From The Last 14 Days
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November 25, 2015
13:30 EDTTWAdvisory firm: Willis should boost dividend for Towers holders, Reuters says
Proxy advisory firm ISS issued a statement recommending Willis Group (WSH) boost its special cash dividend for Towers Watson (TW) shareholders to at least $13.44 as part of the proposed merger of the two companies, reports Reuters. Based on similar "mergers of equals," $13.44 would represent the biggest discount typically seen in those types of deals, while a special dividend closer to $15.92 would match the median discount, according to the report. Reference Link
November 23, 2015
08:04 EDTTWTowers Watson reiterates support for Willis merger to shareholders
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06:40 EDTTWWillis Group upgraded to Hold from Sell at Deutsche Bank
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November 20, 2015
08:46 EDTTWTowers Watson adjourns special stockholder meeting to December 11
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November 19, 2015
14:02 EDTTWDriehaus calls Towers Watson, Willis deal terms 'inadequate'
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09:13 EDTTWWillis Group, Towers Watson agree to amended terms for merger
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08:49 EDTTWTowers Watson to increase one-time cash dividend under amended Willis merger
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08:37 EDTTWWillis dividend would be 'reasonable compromise,' says Sterne Agee CRT
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November 18, 2015
15:02 EDTTWWillis Group to host special shareholder meeting
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14:56 EDTTWTowers Watson to host special shareholder meeting
Special Shareholder Meeting to vote on the proposed merger with Willis Group Holdings will be held in Miami Beach on November 20 at 8 am.
14:13 EDTTWWillis considering raised bid for Towers Watson, Reuters reports
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08:46 EDTTWTowers Watson says November 18 meeting adjourned to November 20
Towers Watson (TW) announced that the Special Meeting of Stockholders scheduled for Wednesday, November 18, 2015 to vote on proposals recommended by Towers Watson's board regarding its proposed merger with Willis Group Holdings (WSH) has been adjourned to November 20, 2015 at 8:00 a.m. local time and will take place at Royal Palm South Beach, 1545 Collins Avenue, Miami Beach, FL 33139. The Special Meeting of Stockholders has been adjourned until November 20, 2015 in order to provide additional time for stockholders to vote. Stockholders who have already voted do not need to recast their votes. Proxies previously submitted will be voted at the reconvened meeting unless properly revoked. Stockholders who have not already voted or wish to change their vote are encouraged to do so using the instructions provided in their voting instruction form or proxy card.
07:18 EDTTWWillis Group, Towers Watson deal poised to be rejected, says Wells Fargo
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November 13, 2015
08:01 EDTTWWillis Group to host special shareholder meeting
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08:00 EDTTWTowers Watson to host special shareholder meeting
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07:59 EDTTWWillis Group urges Willis, Towers Watson holders to support merger
Willis Group (WSH) urged its shareholders, and those of Towers Watson (TW), to vote "FOR" the proposed merger of equals between the two firms. For Willis shareholders, the proposed deal further strengthens the powerful standalone Willis value proposition. The proposed deal enables Willis shareholders to participate in the significant economic opportunity generated by the planned combination. For Towers Watson investors, the deal accelerates the firm's publicly stated long-term strategy. It delivers value to Towers Watson shareholders through clear, compelling synergies and new client opportunities. For Towers Watson shareholders, as Towers Watson has stated, the combination is expected to result in projected cash net income accretion of an estimated 45% by calendar year 2018. This transaction was unanimously agreed upon by both boards of directors. Willis will contribute 55.8% of the projected combined EBITDA in 2016 excluding synergies, is enabling a significant portion of the merger synergies through its Irish domicile, and its CEO and CFO will not hold those roles in the new company. Both Willis and Towers Watson investors will benefit from the significant incremental value the two companies expect to create together. As previously disclosed, the merger can create more than $375M in incremental annual revenue in the healthcare exchange, large market property & casualty insurance broking, and global benefits consulting business. The companies also project approximately $100M-$125M in annual cost savings and $75M in annual tax savings.
November 12, 2015
08:03 EDTTWTowers Watson urges shareholders to support Willis Group merger
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November 11, 2015
06:43 EDTTWTowers Watson, Willis merger is 'highly strategic,' says Piper Jaffray
Piper Jaffray analyst George Tong calls the planned merger of Towers Watson (TW) and Willis Group (WSH) "highly strategic." The merger, scheduled to go to a shareholder vote on November 18, will drive earnings growth acceleration and valuation multiple expansion, Tong tells investors in a research note. He believes the combined company would compete more effectively against AON Corp. (AON). Tong reiterates an Overweight rating on Towers with a $152 price target.

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