Towers Perrin, Watson Wyatt to Merge

Management consulting firms Towers, Perrin, Forster & Crosby and Watson Wyatt Worldwide(WW Quote) will merge in a stock deal valued at about $3.5 billion.

The new company, Towers Watson & Co., is expected to have revenue of more than $3 billion and about 14,000 employees. The company will have a presence in more than two dozen countries.

"The combination of Towers Perrin and Watson Wyatt into Towers Watson will create one of the world's leading professional services firms, well positioned for sustained growth and profitability across all geographies and business segments," said Watson Wyatt CEO John Haley, in a statement Sunday. Haley will serve as CEO of the combined company, while Towers Perrin CEO Mark Mactas will be president. ...