Andersen's break up picked up speed this week with KPMG Consulting in the US signalling its interest to buy up 23 Andersen global consulting units for $284m (£203m).
Accountancy Age, 09 May 2002
According to reports KPMG Consulting, the consulting arm of audit firm KPMG which was spun off in 1999, has signed a letter of intent to buy the bulk of Andersen's consulting business.
KPMG plans to issue 6.5 million shares to partners over the next three years to stem any partner defections, according to news reports.
All Andersen units involved in the deal would have to approve the buy-out.
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