Top 30 US accounting firms Wipfli and Eide
Bailly have said they will not complete their proposed merger, and
will instead continue to operate as separate firms.
The merger talks were first announced in
January 2012.
Had they been successful, the new entity would
have become the 12th largest accounting firm in the US.
EB Wipfli, as it would have been known, was
expected to generate annual revenue of $314 million and manage
around $3 billion in assets.
The decision to discontinue merger talks was
reported as being amicable.
Wipfli managing partner and chief executive
Rick Dreher said the firms could not reach agreement on key
terms.
Eide Bailly managing partner and chief executive Jerry Topp
described the firms as friendly competitors before who would
continue to be friendly competitors in the marketplace as we move
forward.
