Baker Tilly shareholders approve RSM Tenon purchase

Baker Tilly's shareholders have unanimously approved the firm's acquisition of beleaguered RSM Tenon Group.

In a statement, Baker Tilly said that RSM Tenon would continue to trade under its own name for a short period while a rolling programme of integration 'gets under way to seamlessly create one newly-merged firm operating as Baker Tilly'.

The vote followed a pre-pack sale of RSM Tenon two weeks ago after listed firm informed the market that it would be in a position to meet its loan obligations to lenders Lloyds Bank.

The jobs and employment rights of RSM Tenon's 2,300 partners and staff in its 35 offices across the UK are unaffected and the provision of professional services to clients in both firms will continue without interruption.

Laurence Longe, Baker Tilly's national managing partner, said: 'This merger is an excellent outcome for the clients, partners and staff of both firms. Bringing the professional skills, strengths and expertise of Baker Tilly and RSM Tenon together as one firm will significantly enhance our offering to the market and provide further opportunities for growth both nationally and internationally.'

Penny Sukhraj | Content editor, Accountancy - (up to 2016)

Penny Sukhraj, former content editor and writer for Accountancy and Accountancy Live, responsible for commissioning and editing news...

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