Mergers

Community News

Crowe Chizek Honored as Top Merger & Acquisition Firm

Crowe Chizek and Company LLC recently was honored as the top accounting firm at the 2003 "Academy Awards of Middle Market Mergers and Acquisitions."The event, presented by M&A industry publication Mergers & Acquisitions Advisor, celebrated the top dealmakers and transactions in middle market mergers and acquisitions (M&A). CNBC's Maria Bartiromo hosted the black tie gala at the New York Athletic Club in New York City.Award honorees were recognized for M&A transaction work valued between $10 million and $1 billion – the defined range of the middle market.
Community News

Clifton Gunderson & Wooden & Benson to Merge January 1

The accounting firms of Clifton Gunderson LLP and Wooden & Benson, Chartered, recently announced that they have signed an agreement to merge effective January 1, 2004.Partners and employees of Wooden & Benson will join Clifton Gunderson. Following this merger, Clifton Gunderson will employ more than 1,480 people in 13 states and Washington, DC.
Practice Management

Morgan Stanley Pays $50 Million To Settle SEC Action

The Securities and Exchange Commission this week announced the institution and simultaneous settlement of an enforcement action against Morgan Stanley DW Inc. for failing to provide customers important information relating to their purchases of mutual fund shares.
Technology

PeopleSoft Takeover Bid Could Be Too Costly For Oracle

The Oracle Corp. may abandon its hostile takeover of PeopleSoft because the software maker is promising generous refunds if the deal is completed.PeopleSoft’s so-called Customer Assurance Program may cost Oracle an extra $800 million.
Community News

Dixon Odom and Crisp Hughes Evans to Merge

Dixon Odom PLLC and Crisp Hughes Evans LLP have agreed to merge their firms and affiliated entities, effective January 1, 2004. The combined Firm will be known as Dixon Hughes PLLC. With total revenues of nearly $95 million and a staff of more than 725 in 24 cities in eight states, Dixon Hughes will be the largest certified public accounting firm headquartered in the Southeast region. The Firm will be headquartered in North Carolina with other offices and affiliated entities in Alabama, California (dealership advisory services), Georgia, South Carolina, Tennessee, Texas, and West Virginia.
Community News

Sarbanes-Oxley Leads to Another Firm Split of Consulting Service

In October 2001, North Carolina-based CPA firm Dixon Odom PLLC merged in Birmingham, Alabama-based Summerford Accountancy, P.C., Certified Public Accountants and Fraud Examiners.
Practice Management

Crowe Chizek: Adding Partners, Offices For National Growth

Mark Hildebrand is a man on a mission. As CEO of Indiana-based Crowe Group LLP, and its subsidiary Crowe Chizek LLC, the eighth largest CPA firm in the United States, Mark Hildebrand very quickly and comfortably talks about a vision for national growth, goals for the firm, and the plan to get there.
Community News

Oracle Ups The Bid For PeopleSoft

The corporate battle between Oracle and PeopleSoft continues as Oracle ups its bid to take over rival software maker PeopleSoft. Oracle "sweetened the deal" by 22% offering PeopleSoft shareholders a price of $19.50 a share, up from its original bid of $16.00 a share last week.The Board of PeopleSoft will "consider" the revised offer, but is still fighting to maintain control of the company.
Community News

PeopleSoft Ups The Ante For J.D. Edwards

Do you have a scorecard? Good . . . Here goes:Software maker PeopleSoft wants to acquire software maker J.D. Edwards. Rival software maker Oracle doesn't want to see that happen because it would knock them off their dominant market position, so Oracle made a hostile $5.1 billion cash takeover bid for PeopleSoft. The PeopleSoft Board didn't like the Oracle offer so they rejected the bid and filed a lawsuit against Oracle claiming unfair business practices. J.D. Edwards sides with PeopleSoft and wants the original merger to go through.Still with us? Let's continue . .
Community News

PwC Sells Off Two of Its Businesses

Big Four firm PricewaterhouseCoopers this week has announced plans to sell two of its businesses. The firm's international business processing outsourcing operations will be sold for $17 million to Exult Inc., the market lead in providing human resources-led business process outsourcing services for Global 500 companies. Exult is based in Irvine, California. As part of the purchase, Exult will add about 500 PwC personnel to its payroll and $25 million in annual revenue to its income statement.
Community News

Oracle Makes Bold Takeover Bid For PeopleSoft

Software giant Oracle Corporation has announced its intention to acquire software maker PeopleSoft for $5 billion. This tender offer comes less than a week after PeopleSoft announced its intentions to acquire J.D.
Community News

PeopleSoft Takes JD Edwards Under Its Wing

California enterprise software company PeopleSoft announced on Monday that it will acquire rival JD Edwards in a friendly merger worth around $1.7 billion.The two companies trail Oracle and SAP in the applications market and independently came to the conclusion that they would compete more effectively by combining forces.JD Edwards CEO Bob Dutkowsky said his company conducted a strategy review late in 2002 and concluded that combining strengths with Peop
Community News

Merger Will Create Largest Regional CPA Firm in Northeast

New Jersey-based CPA firm J.H. Cohn, LLP and The Videre Group have announced an agreement to merge the two firms to create the largest regional accounting firm in the Northeast. J.H.

Growing Demand For Pre-Deal Audits Slows M&A Activity

In the aftermath of bad investments and troubled loans, both corporate buyers and their lenders are looking to accountants to do more upfront audits as part of pre-deal due diligence.
Community News

Financial Services Company to be Spun Out of CPA2Biz

Capital Professional Advisors, Inc., one of the success stories in the CPA2Biz family of product offerings, has announced that it will spin out from the AICPA-backed portal and will re-form as an independent venture.
Community News

PwC Partners Give Green Light to IBM Purchase

The partners of the worldwide organization of Big Four firm PricewaterhouseCoopers have given their approval for IBM's purchase of the firm's PwC Consulting unit. The partners voted overwhelmingly in favor of the $3.5 billion acquisition. IBM and PwC came to an agreement on the acquisition late last July.
Community News

Intuit Completes Acquisition Of Blue Ocean Software, Inc.

Press ReleaseIntuit Inc. has announced it has completed its acquisition of Blue Ocean Software, Inc., a leading provider of software solutions that help businesses manage their information technology resources and assets. The acquisition is a significant step in Intuit's effort to expand its business solutions and go beyond accounting to solve additional mission critical customer problems.
Community News

Ernst & Young Gets Go-Ahead to Acquire Andersen Germany

International accounting firm Ernst & Young has received clearance from the European Union (EU) to proceed with its acquisition of Andersen Germany.
Community News

IBM, PwC Consulting Agree to Terms of Acquisition

There was a time when PricewaterhouseCoopers (PwC) entertained the idea of receiving $18 billion from Hewlett-Packard for the acquisition of its consulting division. Just before the deal became final, HP pulled out. That was nearly two years ago, and a lot has changed in the world economy since then.
Community News

IBM Ready to Acquire PwC Consulting

Reports have surfaced that IBM is about to announce the planned acquisition of PricewaterhouseCoopers (PwC) Consulting. Neither company is available for comment on the business combination, but the Sydney Morning Herald is reporting that an announcement is imminent.Previously, Hewlett-Packard came very close to acquiring PwC's consulting arm.

Pages


Already a member? log in here.