The Paris-based consulting giant is tipped to announce as early as today the confirmation of the deal with the Big Five firm that will create the world’s biggest IT consultancy, with 58,000 employees and annual revenue of nearly 8bn euros.
The poll of E&Y partners – 98% of whom are thought to have favoured the move – will pave the way for Cap Gemini shareholders to approve the merger in May.E&Y partners could be left with a 36% control of the combined group, the Financial Times today reported, and allow the firm to raise capital for technology investment and pension funds.
It is reported E&Y has been forced by the SEC, the powerful US regulator, to agree to sell Cap Gemini shares held collectively by the firm or by audit, tax and corporate partners within five years.
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.
Kevin Reed discusses whether new accountancy group Cogital can rival the Big Four...and its likely direction of travel