Who says that Sundays can’t be big news days for actuaries?
From a Towers Perrin and Watson Wyatt joint press release:
Towers, Perrin, Forster & Crosby, Inc. and Watson Wyatt Worldwide, Inc. today announced that their respective Boards of Directors have unanimously approved a definitive agreement under which Towers Perrin and Watson Wyatt will combine in a merger of equals to form a new, publicly listed company called Towers Watson & Co. Based on the closing price of Watson Wyatt common stock on June 26, 2009, the implied equity value of the transaction is approximately $3.5 billion. Watson Wyatt Chief Executive Officer John Haley will serve the combined company as Chief Executive Officer; Towers Perrin Chief Executive Officer Mark Mactas will serve as President.
No word yet on what this means in terms of actuarial staffing. Both companies’ consulting practices employ hordes of actuaries and actuarial staff.
