KPMG and Ernst call off $18bn accountancy mega-merger

Article Abstract:

Regulatory problems have been the main driving force behind the decision by accounting firms KPMG and Ernst and Young to drop their plans for a $18 billion merger. The two firms have also decided that the costs associated with bringing together their different cultures would be too high. The collapse of the merger plan calls into question the planned merger between Coopers and Lybrand and Price Waterhouse. However, these two firms have stated that their plans are still going ahead.

Planning, KPMG, Ernst & Young L.L.P.

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Saving the Tigers

Article Abstract:

Many UK accountants and solicitors have become involved in crisis management work in Asia. Coopers and Lybrand, for example, has company rescue experts in Malaysia, Hong Kong and Singapore, and this firm has been appointed liquidator to Hong Kong investment bank CA Pacific. Law firms present in Asia include Denton Hall, Allen and Overy and Cameron Markby Hewitt. Insolvency experts recognize that there is need to work with great sensitivity in Asia.

Foreign operations, Asia, Bankruptcy

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The urge to merge becomes irresistible

Article Abstract:

It is expected that the planned merger of accounting firm Arthur Andersen and law firm Wilde Sapte will be completed by Sep 1, 1998. The merged operation could eventually be an international legal and accountancy venture, giving Arthur Andersen the ability to offer global multi-professional services. This deal is one of a number of similar mergers between law firms and accounting firms, and it may be that such deals become inevitable.

Mergers, acquisitions and divestments, Arthur Andersen & Co. (New York, New York), Wilde Sapte

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