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Rounding up the latest consultancy and IT news, with comment by industry watcher Sarah Underwood.
Market News - Part 2 | Part 1
PwC Consulting plans for an August IPO
The long-awaited spin-off of PricewaterhouseCoopers’ consultancy business is planned to take place by early August. It is expected to raise between
$3 billion and $4.5 billion – well adrift of the $18 billion offered by Hewlett-Packard for the consultancy back in 2000 – and capitalise the company at between
$4 billion and $6 billion.
PwC Consulting’s 1,500 partners will keep 25% of the firm, valuing their shareholdings at about $1 million each. But PwC’s audit partners are not expected to receive anything from the initial public offering of the remaining 75% of shares. These proceeds will, instead, be used to make up pension fund deficits across PwC’s practices.
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Consultants' Advisory 2002
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