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KPMG Consulting Flaunts Independence With New Logo MCLEAN, Va., Nov. 23, 2000 (SmartPros) Flaunting its independence from its accounting parent firm and moving to establish its own corporate identity, KPMG Consulting unveiled a new company logo. The new insignia emblazons the firm's worldwide headquarters building at Tysons Tower in McLean, Virginia, previously identified by a KPMG LLP sign, which the firm said represented audit, tax and consulting. The consulting unit was incorporated as a separate subsidiary in January. In September, KPMG upped its initial public offering from some 324 million shares to 367,114,685. The IPO is expected to grab between $6.75 and $8.75 per share. KPMG Consulting is offering 59.2 million shares of common stock, while parent company KPMG LLP is offering 307.9 million shares. Following the offering, KPMG LLP, the non-U.S. KPMG International member firms and their respective partners, will collectively own no more than 19.9 percent of the company's common stock. The company plans to use about $202.1 million of the proceeds from the offering to repurchase shares from Cisco Systems, Inc. that will not be converted into shares of their common stock. KPMG Consulting has applied to list the common stock on the Nasdaq Stock Market under the symbol KCIN. Morgan Stanley Dean Witter is managing the offering. Send comments to information@smartpros.com. |
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