One of the plums, Andersen in Spain, chose to merge with Deloitte Touche Tohmatsu instead.
This might have preserved something of the Andersen network and culture.However, after a decision by its Spanish practice on April 2nd to merge with Deloitte Touche Tohmatsu, that ambition has been abandoned.
C17 BUSINESS DAY C1-16 AnderSeekseeks More Suitors Arthur Andersen intensified talks with two accounting rivals, KPMG and Ernst & Young, amid signs that a possible merger with Deloitte Touche Tohmatsu was faltering.
The collapse of the negotiations with KPMG came as Andersen's office in Spain -- long considered a crown jewel in the firm's world empire -- struck its own deal with Deloitte Touche Tohmatsu, another rival.
Andersen has been warned by the Justice Department that it faces an indictment for obstruction of justice in connection with the destruction of documents in the Enron investigation and has opened negotiations with Deloitte Touche Tohmatsu about being taken over by that firm.
It is not clear if Andersen can arrange a deal with Deloitte & Touche, or with any of the three other large accounting firms.
Previously it had settled with Deloitte & Touche and Dianthus for $149.0 million, and with Italian creditor Banca Monte Dei Paschi Di Siena for $117.9 million.
In fact, Mr. Cameron, who was laid off from his consulting job with Deloitte & Touche in October of 2001, had just moved to San Francisco to live with his partner.
The Saudi firm, intent on further acquisitions, has also talked to Italy's Eni regarding its chemicals business.Andersen fragmentsKPMG's hopes of acquiring the bulk of Andersen's non-American business collapsed with the decision of Andersen's Spanish operations to join up with Deloitte & Touche (the Latin American operations may well follow).
The Democrat who beat him, Mary F. Foster, a retired partner with Deloitte & Touche, is the Democratic candidate.
