The European Commission has pushed back its deadline for a decision on Aon’s merger with Willis Towers Watson to July after receiving company submissions on commitments aimed at addressing the regulator’s concerns.

The commission opened an in-depth investigation on December 21 to assess whether the deal would lead to less choice and higher prices for European customers in the commercial brokerage market and in reinsurance.

A decision was previously expected by May 10, but following company submissions filed earlier this month, the deadline has been changed to July 27.

Media reports say Aon has proposed to the European regulator that it will sell operations in several countries, with Willis Re, and various broking activities in France, Spain and the Netherlands flagged for potential divestment.

Aon said during a February results briefing that it remained confident of completing the US$30 billion ($40 billion) transaction in the first half of this year, but the deal is still to gain regulatory approvals in a number of jurisdictions.

Singapore’s Competition and Consumer Commission this month called for public feedback on the deal, with its review focused on retirement benefit and human capital consulting services. Submissions closed on Friday.

The Australian Competition and Consumer Commission is due to release a decision on May 27, while the New Zealand Commerce Commission is also completing inquiries following the publication of a statement of issues.

“We are due to make a decision by 25 May 2021, and at this point in time are not consulting on any remedies,” a commerce commission spokeswoman told insuranceNEWS.com.au.

Aon, which announced the proposed deal in March last year, operates in more than 120 countries. Willis Towers Watson provides services in more than 140 countries.

The proposed merger, which would create the world’s largest insurance broker, was announced about a year after Marsh & McLennan completed its acquisition of rival JLT.

Marsh sold JLT’s global aerospace broking operations to Gallagher to address competition concerns raised about that transaction.

Aon declined to comment on the regulatory approvals process. The company is due to provide its next earnings update on April 30.