Willis Tower Watson To Replace Fossil Group On S&P 500
Willis Group Holdings PLC and Tower Watson & Co. shares rose in the extended session Monday after S&P Dow Jones Indices announced the combined companies would join the S&P 500 Index after the close of trading Jan. 4. Willis Group shares rose 2.6% to $48.25, and Tower Watson shares advanced 1.2% to $136.10. The deal to create Willis Tower Watson is expected to close by the addition and the combined companies will trade under the ticker "WLTW". The company will replace Fossil Group Inc. on the index. Back in June, Willis and Towers Watson agreed to merge in an $18 billion deal, but that amount was bumped up after Towers Watson shareholders thought the price too low.
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