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16 Aug 2012
BDO IS LINING up a deal to acquire rival PKF, according to reports.
The sixth-largest firm with fee income of £281.5m, according to the Accountancy Age Top 50 +50, is rumoured to have agreed a deal in principle with the 12th largest firm, PKF, the Daily Telegraph reports.
Further reading
It is reported the deal will see PKF's UK business separated from its international operations, PKF International, and integrated into BDO's international network.
PKF's managing partner, Martin Goodchild, has yet to put the deal to the firm's 70 partners but it is understood it has been agreed in principle.
However, a PKF spokesman denied the rumour: "PKF has not done a deal with BDO".
A BDO spokesman added: "We do not comment on such rumours or speculation."
If the deal does go ahead, BDO will overtake Grant Thornton as the fifth-largest firm.
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Visitor comments Add your comment
Bad deal
BDO look at this as an acquisition. PKF partners will not survive long term. BDO has shrunk severely under Simon Michaels and yet the few at the top have significantly increased their profit share while the rest have seen year on year cuts. The firm has few ideas for growth and no capacity to deliver. Partners are angry but fearful. Why would a PKF partner vote for that kind of thinking and a curtailed career. Unless of course planning returement in the next few years ?
Posted by: Mr Turkey, 07 Sep 2012 | 18:25