PracticeAccounting FirmsEC likely to ‘call in’ Andersen merger

EC likely to 'call in' Andersen merger

A merger between Andersen and any other Big Five firm will almost certainly be reviewed by competition authorities at the European Commission, it has emerged.

The commission has authority to examine mergers where combined world-wideturnover exceeds ? ¬5bn (£3bn) and where European sales are more than ? ¬250m.

A merger between the UK operations of Deloitte and Andersen would create a firm worth £1.4bn and a global marriage would be worth £12.7bn – easily meeting the EC criteria.

However, the commission has so far taken no decision on whether to review apossible merger between Andersen and Deloitte Touche Tohmatsu, aspokeswoman for the competition commissioner Mario Monti told AccountancyAge.com, although its rules suggest that it would almost inevitably do so.

The latest news comes as speculation grew that KPMG had joined Deloittes and Ernst & Young in discussing the possibility of a merger with Andersen.

All the firms have so far refused comment though a source at Andersen revealed the speculation was not without foundation.

Related Articles

British Accountancy Awards 2018 – entries open!

Accounting Firms British Accountancy Awards 2018 – entries open!

2w Emma Smith, Managing Editor
Is the accountancy sector facing an international talent crisis?

Accounting Firms Is the accountancy sector facing an international talent crisis?

2w Lewis Silkin
RSM appoints new Chief Operating Officer

Accounting Firms RSM appoints new Chief Operating Officer

2w Alia Shoaib, Reporter
RSM announces 11 partner promotions

Accounting Firms RSM announces 11 partner promotions

3w Emma Smith, Managing Editor
BDO hires former AstraZeneca creative director as head of digital and innovation

Accounting Firms BDO hires former AstraZeneca creative director as head of digital and innovation

1m Emma Smith, Managing Editor
What does the future hold for listed accountancy firms?

Accounting Firms What does the future hold for listed accountancy firms?

1m Fergus Payne, Lewis Silkin
EY, Deloitte lead Big Four in gender pay gap reporting

Accounting Firms EY, Deloitte lead Big Four in gender pay gap reporting

2m Emma Smith, Managing Editor
Mind the gap: what accountancy firms should be doing ahead of the new gender pay gap reporting rules

Accounting Firms Mind the gap: what accountancy firms should be doing ahead of the new gender pay gap reporting rules

2m Karen Baxter, Lewis Silkin