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7 12 2010 »Aon Corporation to Buy Hewitt Associates
Aon Corporation has agreed to buy Hewitt Associates Inc. in a cash-and-stock deal valued at nearly $5 billion.

Following the close of the transaction later this year, Aon Consulting will integrate Hewitt operate the segment worldwide under a newly created Aon Hewitt brand.
Aon Hewitt will be run by Hewitt Chairman and Chief Executive Russ Fradin.

The combination of Aon and Hewitt creates a much larger presence in the HR marketplace. The newly formed Aon Hewitt would have revenues of $4.3 billion and 29,000 consultants globally and clients in 120 countries.  The combined revenue for fiscal year 2009 consist of 49 percent from consulting services, 40 percent from benefits outsourcing and 11 percent from HR business process outsourcing.

In addition, the companies expect the deal to save about $355 million annually by 2013, mostly from reduction in back-office areas. Separately, both Aon and Hewitt reported losses in the first quarter.
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