The proposed transaction is conditional on approval by Booz & Company partners, receipt of required regulatory approvals and other customary closing conditions.

“We have an unwavering commitment to helping our clients succeed. This has been our mantra since our founder, Edwin Booz, invented the management consulting profession almost 100 years ago,” said Cesare R. Mainardi, CEO of Booz & Company. “Our goal is to help clients identify and build the differentiating capabilities they need to win. This potential combination would not only deliver on this innovative value proposition but would also help reinvent management consulting for the next century.”

The Booz & Company partner vote is scheduled to take place in December and a further public announcement is expected by the end of the year.

Dennis Nally, Chairman of PricewaterhouseCoopers International, said “We believe this proposed combination of Booz & Company with our existing Assurance, Advisory and Tax capabilities would create a stand-out professional services organisation that delivers first class quality services to a broad range of stakeholders. In particular, it would give CEOs the opportunity to work with a global consulting team that could provide services from strategy development right through to execution.

“One of the real strengths of PwC is the scope and quality of our services, giving us the ability to work with a wide range of stakeholders to build trust and solve important problems. Today’s proposed merger would only add to that strength.”

Didier Mouget Managing Partner of PwC in Luxembourg, said “For PwC Luxembourg this move will further contribute to our growth strategy and will complement our set of strengths and skills. It will mean also working with new clients and much more opportunities for our people to contribute to large multinational engagements. We are very proud to join forces with one of the most prestigious global consulting brands which clearly reflects the attractiveness of the PwC Global network business model "

Until the results of Booz & Company’s partner vote are known it will be business as usual, with both organisations staying fully focused on serving their clients.