Amid the chaos surrounding Andersen and its involvement with collapsed energy giant Enron, Pennsylvania Sate University associate professor and director of its MBA programme, J Edward Ketz, has said ‘there’s a chance that they go under on this one’.
According to the New York Times, former partners and accountancy industry experts, added that the firm is considering a merger with one of its four main competitors.
It is faced with a $1bn lawsuit from Enron shareholders, while it is feared any future damages could push the firm into serious trouble.
However, a UK spokeswoman for the firm, said: ‘The rumour over Andersen’s merging with KPMG is a complete dead duck. There is no truth in the rumour.’
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