本文发表在 rolia.net 枫下论坛KPMG, Andersen in talks to merge in Canada
Last Updated Fri, 22 Mar 2002 17:26:34
TORONTO - Accounting firms KPMG and Arthur Andersen's Canadian arm confirmed Friday that they are in talks to the merge their operations.
If the two companies do join together, the Andersen name would disappear in this country. A merged company would operate as KPMG LLP, employ more than 5,000 people, and generate annual billings of more than $900 million.
"We have commenced the process of conducting due diligence," KPMG Canada chairman and CEO Bill MacKinnon said in a release.
"We are working towards an agreement. Negotiations will be required to address the business and legal issues associated with bringing the two firms together. Any agreement will require approvals from the partners of both firms," MacKinnon said.
"We are very pleased to be in discussions with KPMG," said Andersen Canada managing partner Russel Robertson.
"We know their people well, and there's a great deal of mutual respect between our two organizations. We are confident that the results of these negotiations will create a positive outcome for our people and our clients," Robertson said.
Earlier this week, KPMG and Arthur Andersen announced that merger discussions were underway among their country practices outside the United States.
Andersen's U.S. division is currently embroiled in the Enron scandal, and this week entered a plea of not guilty to a charge of obstruction of justice. Authorities allege the accounting firm deliberately shredded documents as regulators launched investigations into Enron's accounting practices.
Hit with the public relations storm accompanying the investigation and the obstruction charge, Andersen has lost many high-profile clients in the U.S. The company has tried to negotiate a merger with other large U.S. accounting firms. However, with the charge and the threat of legal action hanging over Andersen, several competitors have already backed away from the merger table.
Written by CBC News Online staff更多精彩文章及讨论，请光临枫下论坛 rolia.net
Last Updated Fri, 22 Mar 2002 17:26:34
TORONTO - Accounting firms KPMG and Arthur Andersen's Canadian arm confirmed Friday that they are in talks to the merge their operations.
If the two companies do join together, the Andersen name would disappear in this country. A merged company would operate as KPMG LLP, employ more than 5,000 people, and generate annual billings of more than $900 million.
"We have commenced the process of conducting due diligence," KPMG Canada chairman and CEO Bill MacKinnon said in a release.
"We are working towards an agreement. Negotiations will be required to address the business and legal issues associated with bringing the two firms together. Any agreement will require approvals from the partners of both firms," MacKinnon said.
"We are very pleased to be in discussions with KPMG," said Andersen Canada managing partner Russel Robertson.
"We know their people well, and there's a great deal of mutual respect between our two organizations. We are confident that the results of these negotiations will create a positive outcome for our people and our clients," Robertson said.
Earlier this week, KPMG and Arthur Andersen announced that merger discussions were underway among their country practices outside the United States.
Andersen's U.S. division is currently embroiled in the Enron scandal, and this week entered a plea of not guilty to a charge of obstruction of justice. Authorities allege the accounting firm deliberately shredded documents as regulators launched investigations into Enron's accounting practices.
Hit with the public relations storm accompanying the investigation and the obstruction charge, Andersen has lost many high-profile clients in the U.S. The company has tried to negotiate a merger with other large U.S. accounting firms. However, with the charge and the threat of legal action hanging over Andersen, several competitors have already backed away from the merger table.
Written by CBC News Online staff更多精彩文章及讨论，请光临枫下论坛 rolia.net