Deals & People September 24, 2010

Aon-Hewitt Merger to Close in October

Aon Corporation and Hewitt Associates, Inc. announced that they anticipate completing their proposed merger transaction on or about October 1, 2010.
Reported by

According to the announcement, the deadline for Hewitt stockholders to elect the form of merger consideration they will receive in the transaction has been set for 5:00 p.m. Eastern Standard Time on September 29, 2010.  

The proposed merger was announced July 12 (see Hewitt Associates, Inc. to Merge with Aon Corporation).   The required election forms and accompanying instructions were mailed on or about August 19 to Hewitt stockholders of record as of August 16, 2010.    

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The transaction remains subject to the satisfaction of customary closing conditions, including the receipt of certain regulatory approvals.
The Markets September 24, 2010

Vanguard Switches International Fund Benchmark

Vanguard plans to change the target benchmark of its Total International Stock Index Fund from the MSCI EAFE + Emerging Markets Index to the MSCI All Country World ex USA Investable Market Index, the firm announced.
Reported by

 

A news release said the fund’s new target index covers 98% of the world’s non-U.S. markets, including the European, Pacific, and emerging market regions, as well as Canada. The index includes more than 6,000 issues encompassing stocks of large-, mid-, and small-capitalization companies in 44 countries.

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“We believe that the new target benchmark offers a better representation of the international equity universe, offering exposure across the capitalization spectrum, including small-cap issues,” said Vanguard’s Chief Investment Officer Gus Sauter, in the announcement

Vanguard expects Vanguard Total International Stock ETF to begin trading in the first quarter of 2011. Introduced in 1996, Vanguard Total International Stock Index Fund is Vanguard’s second largest international index fund with $26.2 billion in net assets.

Shares, Estimated Expense Ratio 

  • Investor,  0.32%
  • Admiral,  0.20%
  • ETF,  0.20%
  • Signal,  0.20%
  • Institutional, 0.15%
  • Institutional Plus,  0.12%

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