In a hearing yesterday, the US Department of Justice agreed to adjust its timeline to deliver important information related to its earlier investigation of the antitrust case to the courts much faster than previously anticipated.
These materials, part of the US Department of Justice’s research before the court case even began, have been seen as key for Aon and its acquisition target Willis Towers Watson (WTW) to be able to deliver their own required submissions to the case.
The information is pre-trial research and data that the US DoJ had collected before filing its court case, specifically some of this is related to how it had sized the market and ascertained that a combined Aon and WTW would pose a competitive or antitrust threat, something the merger parties have been calling for the urgent disclosure of.
As we reported yesterday, Aon, WTW and the US DoJ have still been debating dates in the process, with Aon and WTW pushing for every possibility to bring the process to closure much faster if they can.
As a reminder, the US department of Justice had filed a civil antitrust lawsuit that blocked the proposed $30 billion mega-merger of Aon with rival Willis Towers Watson on the grounds that it would create an insurance and reinsurance “broking behemoth” capable of eliminating competition and increasing prices.
As a result, merger parties Aon and WTW have been pushing to expedite the trial process where they can, determined not to let it slip or turn into a prolonged process.
Part of our report yesterday was related to this discovery type research information and defendant’s Aon and WTW calling for it to be disclosed faster than the DoJ had proposed, saying that it was pushing the disclosure date further back than it would typically do in such a trial.
It seems the judge agreed, as District Judge Reggie Walton said that the DoJ must deliver this investigative material information to the courts by Tuesday, with additional information also now expected later next week, again quicker than had been anticipated.
Perhaps tellingly for how other issues related to timing may go, the judge seemed to favour the merger parties positions, accusing the US DoJ of dragging its heels and not sticking to its own timelines, of how a typical case would run in terms of the submission of important background documentation.
The judge pushed back on the DoJ’s attorneys attempts to reason as to why a delay was needed, which suggests the judge may be more disposed to follow a standard timeline, which will please Aon and WTW as this has been part of their argument over the delay in the case.
