Takeover of PA Consulting nears
PA Consulting has confirmed that it is in discussions regarding a possible takeover by research and engineering company Science Applications International Corporation.
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‘The reaction of PA’s board and management committee is that the proposal, if agreed, opens up exciting growth opportunities, both for our company and all our staff, so we should take it seriously,’ said a statement released to Management Consultancy.
‘If this merger goes ahead, PA would retain its own identity, indeed grow as other parts of SAIC were brought into our organisation, and the focus would be on maximising the growth potential of the new organisation.’
The merger could be confirmed as early as next week, according to the Financial Times, with the privately owned management consultancy’s staff receiving bonuses on their shareholding.
A successful deal could see 3,000 PA Consulting staff benefit from a windfall. However the statement read: ‘As yet the talks are preliminary, and we have no formal agreement or letter of intent between the two companies.’