Willis Corroon Subject of $1.4 Billion Buyout

Willis Corroon says it has agreed to be taken over for $1.4 billion by Trinity Acquisition, PLC, a group formed by Kohlberg Kravis Roberts & Co.

The brokerage says the deal is backed by five major insurers: Guardian Royal Exchange, Royal SunAlliance, Chubb, The Hartford and Travelers Property Casualty, according to a report in today's Wall Street Journal.

Seven of Willis Corroon's senior executives will also invest in Trinity, the report says.