BDO IS LINING up a deal to acquire rival PKF, according to reports.
The sixth-largest firm with fee income of £281.5m, according to the Accountancy Age Top 50 +50, is rumoured to have agreed a deal in principle with the 12th largest firm, PKF, the Daily Telegraph reports.
It is reported the deal will see PKF’s UK business separated from its international operations, PKF International, and integrated into BDO’s international network.
PKF’s managing partner, Martin Goodchild, has yet to put the deal to the firm’s 70 partners but it is understood it has been agreed in principle.
However, a PKF spokesman denied the rumour: “PKF has not done a deal with BDO”.
A BDO spokesman added: “We do not comment on such rumours or speculation.”
If the deal does go ahead, BDO will overtake Grant Thornton as the fifth-largest firm.
We discuss the Accountancy Age Top 50+50 supported by Sage; growth at Menzies; and the provision of value-added services
Following the merger with Harris Lipman in July 2015 the firm’s 2015-16 financial figures reveal Mezies has hit £40m for the first time, a 20% increase on last year’s results
RSM has announced the appointment of a record 350 trainees across all locations in the UK – expanding the total headcount of the firm by 10%
The Middle East arm of Deloitte and Touche is being sued by a Dubai-based investment group after it failed to spot money laundering at a now defunct Lebanese bank