KPMG has announced it is to acquire Andersen’s worldwide consulting units for $284.0 million. Andersen has been seeking a merger to offset litigation over its accounting audit of defunct energy company, Enron Corporation.
Under the terms of the deal KPMG is expected to purchase 23 independent consulting units of Andersen in the US, Europe, Asia Pacific, and Latin America. KPMG has already bought units in China and Hong Kong from Andersen.
The deal will be finalized after liability and regulatory issues have been settled between the two companies and any other third parties that may be involved.