Grant Thornton explores three-way merger

Grant Thornton’s US business has discussed a possible deal to acquire the accounting group’s UK and Irish affiliates in what would be one of the most ambitious M&A transactions in the sector to date. The transatlantic merger proposal comes after Grant Thornton US sold a majority stake to private equity investors earlier this year and promised to turbocharge the growth of its consulting and tax businesses.

More recently, Grant Thornton Ireland hired Deutsche Bank to begin a similar exploration of its options, said people familiar with the situation. Grant Thornton UK had revenues of £654mn and operating profit of £146mn last year, according to its annual report, while the Irish business had revenues of about €300mn. Grant Thornton US had revenues of $2.4bn in its last fiscal year ended July 2023.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Caution on company deals to ease after General Election, says Grant Thornton corporate finance bossMarket conditions for company deals should improve in the second half of the year after the General Election is settled, the boss of Grant Thornton’s corporate finance team in the North has said.
Source: The Yorkshire Post - 🏆 39. / 66 Read more »