Management consultancy tie-up as PwC and Booz & Co agree merger

A big tie-up in management consultancy, as PwC - one of the big four accountancy giants - has announced a conditional merger agreement with Booz & Co.

Booz's 300 partners will now have to vote that deal through in December if it is to proceed.

In September PwC said that it had adjusted to a "new normal" of lower growth, as the company saw revenues grow by three per cent to £2.69bn in the year to the end of June.

PwC now audits 41 of the FTSE 100 companies and 29 per cent of the FTSE 350.

In July the Wall Street Journal reported that PwC rival Accenture was in talks to buy Booz & Co.