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BDO to merge with Moore Stephens
26 November 2018
After four months of discussions BDO has announced it is merging with smaller rival Moore Stephens, in a move that would make the combined firm the UK’s fifth biggest on total revenues.
The merger will see BDO leapfrog Grant Thornton, with its new combined revenue of £560m, with 264 partners and 5,000 staff.
BDO’s Paul England will led the combined firm and he said: “We are not chasing the Big 4 and don’t want to become a version of those businesses.”
PQ magazine regular columnist, Professor Prem Sikka, said that the merged entity is just 39% the size of KPMG. He is quoted as saying: “Even if all of the firms ranked 5th to 10th were to merge they would still be smaller than the smallest Big 4 firm, and won’t be able ton wrestle significant portions of the market from them.”
The big question now is whether this is the start of more deals among the mid-tier accountancy firms.
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