Booz & Co.'s global partners have voted to approve a combination with PwC.
The two announced in October that they had signed a conditional merger agreement. Following the required regulatory approvals and assuming the fulfillment of other customary closing conditions, the deal is expected to conclude in the first quarter of 2014 (see
PwC and Booz & Co. will form a global advisory business that designs strategies for companies and execute them across a wide range of functions and service offerings.
"Clients are demanding practical strategies that deliver sustainable outcomes," Booz & Co. CEO Cesare Mainardi said in a statement. "Our industry is responding with consolidation across the consulting spectrum. We have chosen to lead this change—to deliver better results for our clients and help transform our industry."
Until the closing, the two will continue operating separately.
