PwC Says No Go to IPO . . . For Now
Despite a flurry of recent reports to the contrary, management at PricewaterhouseCoopers refuses to confirm plans for an Initial Public Offering.
A spokeswoman from PwC claims the firm is giving equal consideration to three possible options for its management consulting practice: an IPO, an outright sale, or a "consortium of investors."
In addition, the spokeswoman, who remained unnamed but was quoted in an article at CFO.com, stated that no decision about these possible options would be made until sometime after the company's fiscal year begins on July 1. "We have kept it a moving target because of market conditions, the general slowdown in the consulting industry, and other factors that are out of our control.”
The spokeswoman claims that the new SEC independence guidelines are playing a big part in the PwC decision to divest itself of its consultancy arm.