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Will Willis Tower be renamed?
Willis Tower, which once reigned the skyscraper ranking as the world’s tallest building for nearly 25 years under its former name Sears Tower, will likely not be renamed again anytime soon as the naming rights contract with Willis Towers Watson insurance does not expire until March 2025.
Why did they change the name of the Willis Tower?
Willis Tower was the world’s tallest building until 1998. After 18 years, Sears Roebuck and Company sold the tower and moved out of the building. In 2009 the building was renamed Willis Tower after the Willis Group Holdings, the global insurance broker who calls the Tower its Midwest home.
What did the Willis Tower used to be called?
the Sears Tower
For nearly 25 years after its completion, the Willis Tower, formerly known as the Sears Tower, held the title of tallest building in the world. Standing 110 stories tall, its black aluminum and bronze-tinted glass exterior has become emblematic of Chicago, a city crazy about its architecture.
What happened to Willis Aon merger?
DUBLIN, July 26, 2021 /PRNewswire/ — Aon plc (NYSE: AON) and Willis Towers Watson (NASDAQ: WLTW) announced today that the firms have agreed to terminate their business combination agreement and end litigation with the U.S. Department of Justice (DOJ). The proposed combination was first announced on March 9, 2020.
Does Willis Tower Watson own Willis Tower?
Completion. The merger was closed on 5 January 2016 once all regulatory approvals were received. Willis Towers Watson publicly announced their name change on 5 January. Willis Group shareholders owned 50.1% while those of Towers Watson shareholders owned 49.9% of the combined company.
Why did the Aon Willis merger fail?
London-based advisory insurance and risk management broker Willis Towers Watson has rehired Andrew Krasner, a former executive, as CFO, part of its effort to realign its strategic priorities following its attempted merger with Aon, which failed because of antitrust concerns.
Who owns the Willis Tower?
Blackstone IncWillis Tower / Owner
How did Willis Tower get its name?
In March 2009, London-based insurance broker Willis Group Holdings agreed to lease a portion of the building and obtained the naming rights. On July 16, 2009, the building was officially renamed Willis Tower.
How much did it cost to rename Willis Tower?
London-based insurance broker Willis Group Holdings, Ltd. leased more than 140,000 square feet (13,000 m 2) of space on three floors in 2009. A Willis spokesman said the naming rights were obtained as part of the negotiations at no cost to Willis and the building was renamed Willis Tower on July 16, 2009.
Could Willis Towers Watson get a new name?
That could mean a new name for one of the world’s most famous buildings. Willis Towers Watson took over naming rights to the building in 2009. Willis Towers Watson has five years left on its naming rights deal for Chicago’s tallest tower.
Is Sears Tower the same as Willis Tower?
In 1988, Sears Roebuck and Company sold and moved out of the building, but the Sears Tower name remained the same. It was renamed Willis Tower in 2009 after the Willis Group Holdings, the global insurance broker who calls the Tower its Midwest home.