Towers Watson and Willis Group recut the terms of their $18 billion merger after failing to get enough support for the deal from Towers Watson shareholders.

Towers Watson ​said it would increase a special cash dividend payable to its shareholders to $10 a share from $4.87, a move that equals a roughly 4% price bump. The companies hope the increase will sway enough Towers Watson shareholders, who rejected the original deal on November 18.