Grant Thornton Advisors Completes $5 Billion Acquisition of CBIZ

Grant Thornton Advisors said Monday it has completed its $5 billion acquisition of CBIZ, which is expected to make Chicago-based Grant Thornton the fifth-largest accounting firm in the U.S. by revenue behind the Big Four.

The deal, which was announced in late July, is the largest of its kind in public accounting in more than two decades. A series of deals between the Big Eight accounting firms in the late 1980s and 1990s formed the firms that are now the four largest in the U.S. today—Deloitte, PwC, Ernst & Young, and KPMG—with Coopers & Lybrand combining with Price Waterhouse to become PricewaterhouseCoopers in 1998 being the last such deal.

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