Two giants of the financial industry — one with a Harrisburg office — announced a pending merger that could happen by the end of the year.
Worldwide professional services firm PricewaterhouseCoopers and management consultancy firm Booz & Company announced jointly Wednesday morning they had signed a conditional merger agreement to bring the two companies together.
PricewaterhouseCoopers, based in New York City, has an office in Harrisburg as one of its three Pennsylvania locations. In the summer, it moved from 1 S. Market St. in Harrisburg to the Penn National Insurance Building at 2 N. 2nd St. Officials at the Harrisburg office referred questions to a media representative at the firm's Philadelphia office.
Company spokeswoman Kathryn Oliver said Wednesday morning the company would be making no comment beyond the joint news release.
According to the release, it will be "business as usual" at both firms until Booz & Company's partners vote on the proposal, but it did not go into any detail on what the future corporate structure would look like. That vote is expected in December.
The merger, as it was announced by the companies, also is contingent on receipt of required regulatory approvals and other normal closing conditions, according to the release.
Booz & Company does not current have a Pennsylvania presence among its 12 U.S. offices. It employs 3,000 people at 57 offices around the world, according to its website. Earlier this year, it acquired international consulting company Management Engineers.
PwC has more than 184,000 employees in 157 countries.
Both companies are privately held.