E&Y Partners Overwhelmingly Support Merger

Ernst & Young partners overwhelmingly support a merger of the firm's consulting division with consulting giant Cap Gemini, according to published reports.

With a 98% approval vote of E&Y Partners, the road has been paved to create a worldwide consulting firm consisting of 58,000 employees with annual revenues over $7.5 billion.

The $11 billion merger would free E&Y from independence issues faced by the accounting firm, and would create the mechanism needed to move forward quickly into a strong position in e-commerce consulting worldwide. In the United States, the merger will provide a market for Cap Gemini, which has dominated the field internationally but has had smaller market share domestically.

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