PricewaterhouseCoopers to buy Booz & Co.

[October 31, 2013]  NEW YORK (AP) -- Accounting giant PricewaterhouseCoopers has agreed to buy management consulting firm Booz & Co., which would help to expand its advisory services.

Financial terms were not disclosed.

PricewaterhouseCoopers plans to combine Booz & Co. with its existing assurance, advisory and tax capabilities.

The proposed deal needs the approval of Booz & Co.'s partners as well as the necessary regulatory approvals.

Booz has 57 offices and 3,000 workers globally. PricewaterhouseCoopers has more than 184,000 employees and a network of firms in 157 countries.

Booz's partner vote is set to take place in December. The companies said that another announcement about the proposed transaction is expected by year's end.

The privately held companies said Wednesday that it will be business as usual until the results of the Booz partner vote is known.

[Associated Press]

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