2023-08-16 17:47:21
Updated Wednesday, August 16, 2023 – 17:47
The offer was proposed by the US private equity group TPG to acquire a part of its consulting business.
People walk past an EY headquarters in LondonSimon Dawson
The EY firm rejected an offer from the US private equity group TPG to acquire a part of its consulting business, the British newspaper “Financial Times” (FT) revealed this Wednesday.
The company declined the proposal after having also ruled out its own plans last April to spin off the audit and consulting divisions, in order to take the latter public with a valuation of close to 100,000 million dollars (91,600 million euros).
“TPG’s proposal was a preliminary expression of interest and there has been no additional commitment. We are not actively participating in any transaction,” EY told its partners in a note released by the FT.
“We remain focused on driving our current priorities for fiscal year 2024, completing the CEO succession process and developing the strategic path forward for the organization,” added the company, one of the Big Four global consultancies. EFE
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