Aon Plc and Willis Towers Watson Plc on Monday called off a $30 billion merger that would have created the world's largest insurance broker, saying U.S. regulators' objections created unacceptable delay and uncertainty. The decision was hailed by some as an early victory for the Biden administration's Department of Justice, which sued last month to block it. But it stood at odds with European regulators who recently approved the deal, on condition the companies sell assets - deals now halted that will largely affect the proposed buyer, broker Arthur J. Gallagher & Co.
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