Aon canceled its planned $30 billion takeover of Willis Towers Watson after failing to convince U.S. officials that the combination, which would have created the world’s biggest insurance brokerage, wouldn’t hurt competition. Aon will pay a $1 billion termination fee ...

The Justice Department sued to block Aon’s proposed $30 billion acquisition of Willis Towers Watson, saying the deal to create the world’s largest insurance brokerage is anticompetitive. The department’s antitrust division filed a lawsuit in federal court in Washington Wednesday ...