Grant Thornton LLP and BDO Dunwoody LLP announce plans to end merger discussions

    TORONTO, May 11 /CNW/ - BDO Dunwoody LLP and Grant Thornton LLP announce
today that their respective Boards have agreed to discontinue merger
discussions. Grant Thornton LLP and BDO Dunwoody LLP are both national
accounting and advisory firms with offices across Canada.
    No specific reason led to the decision to cease discussions; however,
both firms recognized that despite the potential of the union, a merger of
this nature also presented significant challenges. The due diligence process
had proceeded amicably and with the cooperation of both firms, but despite
best efforts the two firms were unable to overcome the challenges, and
therefore were unable to complete the process to the satisfaction of all
involved.

For further information: Alex MacBeath, CEO, Grant Thornton LLP; Media
Contact: Donna Carmichael, at [phone]