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| Tuesday, March 16, 2010 |
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ANALYSIS
March 2, 2009
Sagging Index no longer reflects what’s going on in the market, some say, Replacements? Google it, to start.
March 2, 2009
Downward price spiral will actually boost the cost of capital for most companies. CFOS, take note.
March 2, 2009
The latest bailout at AIG could be a preview of how the president will deal with Wall Street.
March 2, 2009
No corporate defaults. Big debt offerings. Percolating CP issuance. Things may be looking up in the capital markets.
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February 19, 2009 8:07 AM ET
(Reuters) — Consultancy firm Accenture has hired Duff & Phelps to advise on its possible acquisition of the Asia business of BearingPoint, two sources familiar with the matter said on Thursday. BearingPoint, which provides technology and management consulting services to the U.S. government, filed for Chapter 11 bankruptcy protection on Wednesday. But BearingPoint has said that its overseas operations were not included in the U.S. bankruptcy filing. BearingPoint declined to comment, while a representative for Accenture could not be immediately reached for comment. Accenture, the former consulting wing of the now-defunct Arthur Andersen, is a major competitor of BearingPoint in Asia Pacific markets. The consultancy is particularly interested in BearingPoint’s Japanese business and assets, said the sources who declined to be identified due to the sensitive nature of the discussions. Japan is the Asia Pacific headquarters of BearingPoint. The McLean, Virginia-based company, began as the consulting arm of KPMG, and it employs about 15,200 people. In China, another key Asian market for BearingPoint, the firm currently has roughly 1,000 staff. It is unclear how many employees BearingPoint has in Japan but the number of staff there is bigger than that of China, said one source. Late on Wednesday, top bosses of BearingPoint in Asia sent internal messages to its employees across the region, including Japan and China, to assure them that the business and operations of the firm in Asia would continue without change. But BearingPoint’s Asia bosses have been approached by a number of rivals or funds, including Accenture, to explore merger and acquisition possibilities for a few weeks, said the sources. No agreement between Accenture and BearingPoint has been signed as Duff & Phelps has not completed its financial due diligence, which will be a key factor to Accenture’s decision in any deal with BearingPoint, said one source.
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