PricewaterhouseCoopers LLP will buy management consulting firm Diamond Management & Technology Consultants Inc. for $378 million in cash, The Associated Press reports. Both firms have Hartford offices.
The offer of $12.50 per share price is a 31 percent premium to Diamond’s closing stock price Monday of $9.54.
In Hartford, PWC offices in CityPlace. Diamond Management is  a block away, in 100 Pearl St.
The acquisition, which has been approved by the boards at both companies is expected to close in the fourth quarter, subject to the approval of Diamond’s stockholders and antitrust clearance.
PricewaterhouseCoopers is an accounting, auditing and human resources company.
When the deal is complete, Diamond will join the PricewaterhouseCoopers advisory practice unit. Diamond has about 500 consultants worldwide and also has offices in Chicago, New York, Washington D.C., London, and Mumbai.
