Price Waterhouse and Coopers & Lybrand announced on 1 December that partners had ?overwhelmingly approved' plans to merge their practices worldwide. The firms would not release detailed country-by-country partnership results, but 85% of the 8,500 partners are said to have voted in favour of the merger.
In a prepared joint statement, Coopers & Lybrand International chairman Nicholas Moore and Price Waterhouse CEO Jim Schiro said, ?Our task now is to secure the needed regulatory clearances, complete the transaction and move quickly to integrate fully our two organisations.? The firms indicated that their formal notification of the bid went to the European Commission on the day the result was announced. News about how the proposals are likely to progress will appear in Accountancy Age on 4 December.
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