Aon will face a list of objections by the EU’s antitrust watchdog which it must overcome with concessions to proceed with its $30 billion bid for Willis Towers Watson. The negotiations may derail Aon’s goal of closing the deal in the first half of the year unless it offers concessions in the coming weeks to stave off the charge sheet.

The deal, announced a year ago, would create the world’s largest insurance broker, putting the merged entity ahead of world No. 1 Marsh & McLennan Companies Inc.

The insurance industry has seen a wave of consolidation triggered by falling valuations, companies seeking to boost their business models, soaring COVID-19 related claims, and other challenges such as climate change.

The European Commission, which suspended its investigation into the deal last month while waiting for Aon to provide requested information, is concerned the takeover may drive up prices and hold back innovation.

Read more at Reuters