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Willis Group considers raising special div for Towers Watson: source

Willis Group Holdings (WSH.N) is considering increasing its offer for Towers Watson & Co (TW.O) after failing to muster enough shareholder support for its $18 billion merger with the human resources consultancy, a person with knowledge of the matter said.

Earlier today, Towers Watson said it planned to reconvene the shareholder meeting on Friday. A special shareholder meeting was held Wednesday morning to tally votes for the deal.

The increased offer would come in the form of a larger special dividend for shareholders of Towers Watson, the person said, who spoke on condition of anonymity.

The range of increase for the special dividend could be around $5, according to people familiar with the matter who also spoke to Reuters on condition of anonymity.

Willis Group declined to comment. A Towers Watson representative did not immediately respond to a request for comment.

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