Arthur J Gallagher is believed to be on the verge of buying the employee benefits arm of Baker Tilly.
Baker Tilly’s advice arm is understood to be the target of a bid from Towry, according to reports in Money Marketing.
Accountancy firm Baker Tilly bought RSM Tenon’s accounting, advice and employee benefits business in September 2013, shortly after it entered administration. All three divisions were rebranded under the Baker Tilly name.
Earlier this month Arthur J. Gallagher bought The Oval Group for a total figure believed to be around £199 million in cash, in a deal it describes as ‘the beginning, not the end’. It is believed to have further acquisitions in the pipeline.
Both Arthur J Gallagher and Baker Tilly have refused to comment on the story.