PracticeAccounting FirmsEC gives Deloitte/Andersen deal the nod

EC gives Deloitte/Andersen deal the nod

As expected, Deloitte & Touche has today been given the green light by the European Commission to transfer the assets of the UK Andersen business into its own portfolio.

A spokeswoman for the EC confirmed to Accountancy Age the deal would be allowed to go through.

Deloitte bid for Andersen’s UK business in April, after Andersen was unable to conclude a similar deal with KPMG.

The deal was referred to the European Commission on competition grounds.

The green light will jettison Deloitte into the UK’s second biggest audit firm and reduce the Big Five to just four large players.

Under the arrangement, Deloitte will take on all Andersen’s physical assets as well as remaining partners and staff. The Andersen name is set to be dropped later this year.p>More to follow.

Related Articles

Johnston Carmichael CEO appointed as ICAS president

Accounting Firms Johnston Carmichael CEO appointed as ICAS president

3w Emma Smith, Managing Editor
British Accountancy Awards 2018 – entries open!

Accounting Firms British Accountancy Awards 2018 – entries open!

1m Emma Smith, Managing Editor
Is the accountancy sector facing an international talent crisis?

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

1m Lewis Silkin
RSM appoints new Chief Operating Officer

Accounting Firms RSM appoints new Chief Operating Officer

1m Alia Shoaib, Reporter
RSM announces 11 partner promotions

Accounting Firms RSM announces 11 partner promotions

2m 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

2m Emma Smith, Managing Editor
What does the future hold for listed accountancy firms?

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

2m 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