Towers Watson Says It Disclosed CEO Conflict In $18B Merger
Law360, Wilmington (April 11, 2019, 9:54 PM EDT) -- Attorneys for consultancy Towers Watson argued Thursday that its CEO’s conflict of interest was disclosed to shareholders before a vote on an $18 billion merger with insurance brokerage Willis Group, and that claims against the company’s board should be tossed.
During oral argument in Delaware Chancery Court, Towers Watson & Co. director attorney John A. Neuwirth of Weil Gotshal & Manges LLP said the state's Corwin doctrine alleviated the company’s board of any liability for breaches of fiduciary duty. He contended that the shareholders had all material information when casting their votes in favor of the $18 billion deal that closed in...
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