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BRIEF-Aon signs definitive agreement to sell benefits administration, HR BPO platform
February 10, 2017 / 11:20 AM / 8 months ago

BRIEF-Aon signs definitive agreement to sell benefits administration, HR BPO platform

Feb 10 (Reuters) - Aon Plc -

* Aon reports fourth quarter and full year 2016 results

* Q4 earnings per share $1.87

* Q4 revenue rose 1 percent to $3.3 billion

* Q4 earnings per share view $2.49 -- Thomson Reuters I/B/E/S

* Q4 adjusted earnings per share $2.56

* Signed a definitive agreement to sell benefits administration and HR business process outsourcing businesses for gross cash proceeds up to $4.8 billion

* Total after-tax cash proceeds from deal are expected to be approximately $3.0 billion

* Deal includes $4.3 billion in gross cash at closing and additional consideration up to $500 million based on future performance

* Aon Plc says foreign currency exchange rates in Q4 had a $0.04 per share, or $13 million pretax, favorable impact on gaap net income

* Subsequent to close of Q4, authorized a $5.0 billion increase to existing remaining authorization under its share repurchase program

* Identified immaterial legacy errors related to quarterly timing of revenue recognition within americas retail brokerage business in risk solutions

* Immaterial legacy errors affected quarterly revenue amounts previously reported

* Impact of errors on company’s annual revenue and organic growth is immaterial Source text for Eikon: Further company coverage:

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