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January 20, 2005
Actuary partners in £240m windfall
ABOUT 240 partners in Watson Wyatt LLP, the UK
actuaries, are to share $451 million (£240 million) in cash and shares
after selling out to Watson Wyatt & Co, their American alliance
partner. The Wall Street-listed sister company is buying the 80 per cent of
Watson Wyatt LLP that it does not already own. The average payout of £1
million per partner spells the end of independence for the UK firm,
which was founded as R Watson in 1878.
Posted by Tom Troceen