Chicago-based insurance broker Aon Corporation will nearly triple the size of its human resources consulting division through a $4.9 billion acquisition of Hewitt Associates Inc., a consulting and outsourcing company.

Hewitt will be integrated with Aon Consulting, to form Aon Hewitt. The new division, which is expected to have annual revenues of $4.3 billion, will be headed by Hewitt CEO Russ Fradin.

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