PLANS to merge Roland Berger Strategy Consultants with Deloitte Touche Tohmatsu have fallen through after the Munich-based firm rejected the advances.
The two had been in advanced talks but directors at Berger overwhelmingly voted to remain independent.
Talks between the two firms had progressed so far it is believed they had already decided upon a new chief executive and were examining possible regulatory hurdles.
The merger talks came after rival Aon’s $4.9bn (£3.1bn) acquisition of Hewitt Associates, with the management consultancy sector continuing to consolidate. It is understood Berger founder Roland Berger, along with a number of partners in the firm, has agreed to invest around £43m in growing the company.
Roland Berger began as a one-man company in 1967 with a focus on marketing consulting. In 2009, the company generated €616m in sales and employed 2,000 staff worldwide.