PwC goes on Booz cruise

The accountancy firm has signed a merger agreement with consultancy firm Booz & Co.

by Emma Haslett
Last Updated: 11 May 2015

Headline writers everywhere have donned black armbands after accountancy firm PwC announced plans to absorb Booz & Company, the US-based advisory firm - a rare example of a UK firm taking over a US company. The tables have turned...

Under the deal, Booz will give up its name and trade as ‘PwC’. At this point MT would like to use up all the puns it has been storing up for a rainy day: ‘Something something Boozy lunch’, ‘Blah blah Boozes it up’, ‘So-and-so hits the Booz’. Thank you.

At the moment, the merger deal is conditional on approval by Booz’s 300-odd partners, who’ll vote on it in December, but although the value of the deal hasn’t been disclosed it’s unlikely to be turned down. The company has been the subject of merger talks for months. Two weeks ago, it was said to be in talks with Infosys after reportedly turning down a €600m (£514m) offer from Accenture in August.

If it’s approved, Booz’s 3,000-odd workers (in the consultancy business that’s what counts as ‘medium-sized’) will be integrated into PwC’s advisory practice. Cesare Mainardi, Booz’s chief executive, made the promise that together, the pair would ‘help reinvent management consulting for the next century’. Sounds ominous…

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