Partners at BDO and PKF have formally agreed the terms of a merger that will result in PKF being swallowed up by spring 2013.
Rumours started circulating on AccountingWEB over the summer and by early November the top-10 rivals confirmed they were in advanced discussions to operate under the BDO brand.
The new firm will have 3,500 members of staff in the UK generating revenues up to £400m. Even if it achieves this level of fee income, the expanded BDO will be set to challenge Grant Thornton as the UK's fifth biggest accounting firm.
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