EY Rejects TPG Proposal to Take Consulting Arm Stake: FT

EY has rejected a proposal from TPG to break up the firm and take a stake in its consulting business, the Financial Times reports, citing a statement sent to partners.

• EY said that TPG’s approach represented a preliminary expression of interest and there has not been further engagement
• The firm added that it is not “actively engaging in any transactions”
• NOTE: TPG Approaches EY About Buying Stake in Consulting Arm: FT

To contact the reporter on this story:
Kevin Simauchi in New York at ksimauchi1@bloomberg.net

To contact the editors responsible for this story:
Max Zimmerman at mzimmerman90@bloomberg.net

Brandon Sapienza ...