BDO AND PKF are in "advanced discussions" to merge in the new year, they have confirmed.
A merged entity would create a firm with more than £400m in revenues, with 3,500 staff.
BDO managing partner Simon Michaels (pictured) said the firms "share a closely aligned vision to lead in the mid-market, as well as similar cultures and a commitment to deliver exceptional client service".
Martin Goodchild, managing partner at PKF (UK) LLP, said: "This is a good strategic decision for both firms which have a desire to lead, from a position of strength, the inevitable consolidation of the mid-tier – which is long overdue."
More to follow.
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