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March 11, 2002 | 1810 IST
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Andersen seeks buyer, talking with Deloitte, says WSJ

Arthur Andersen LLP's advisers have approached rival Big Five accounting firms about acquiring some or all of the firm, and talks with Deloitte Touche Tohmatsu have occurred, the Wall Street Journal reported on Monday.

Deloitte, No. 2 in the Big Five, expressed interest in Andersen, and talks went on into this weekend, some people in Andersen's camp told the Journal.

Paul Clarke, a spokesman for Andersen in London, said he was unable to comment on the reports. Deloitte & Touche head of UK corporate communications Emma Thoroughgood declined to comment. "It's just speculation at the moment," she said.

In addition, the Journal said Andersen attorneys would try in the next few days to reach a settlement with the US Justice Department that avoids criminal charges for destroying documents related to Enron Corp, the energy trader that collapsed amid a storm of accounting questions and filed for the largest bankruptcy in US history in December.

A sale or merger could depend on Andersen's ability to protect the acquirer from Enron-related liabilities, the Journal said.

One method under consideration is a possible Chapter 11 bankruptcy filing, with a sale or merger taking place under court protection from creditors and litigants, the Journal said.

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