Abstracts » Business, international

Touche Ross Corporate Finance

Article Abstract:

UK accounting firm Touche Ross Corporate Finance maintains its commitment to the buyout market, in spite of several failed bids in 1995, notably the bid for National Parking Corporation. The growing trend towards auctions has brought complications for Touche Ross, since it must decide whether to link up with a venture capitalist if the latter could be outbid by another financial buyer. Touche Ross Corporate Finance's strategy is based on being lead adviser whenever possible, which means that it focuses on initiating deals.

Company Profile, Touche Ross Corporate Finance

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Neil Lerner: KPMG Corporate Finance

Article Abstract:

Neil Lerner is head of corporate finance at KPMG, which holds a 25% stake in the UK audit market. KPNG's earnings from corporate finance are estimated at 20 million pounds sterling, and the company had 138 UK mandates from the private and public sectors in 1994. The company has an office in Birmingham, its second largest in the UK, from where advice on corporate finance is provided for the West Midlands region of England. Lerner joined the company in 1968, and became a partner in 1984.

KPMG Peat Marwick L.L.P.

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The credibility gap narrows

Article Abstract:

Accounting firms have become increasingly involved in mergers and acquisitions and the five largest UK companies accounted for deals worth some 5 billion pounds sterling in 1994. UK merchant banks still hold a strong stake in this market. Conflicts of interest could arise for accountants, and they are not able to underwrite or distribute shares. A few large accountancy firms are expected to increase their stake in this market, with polarization occurring.

Economic aspects, Acquisitions and mergers

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