One of the driving forces behind consolidation is the operating efficiencies that often arise from mergers.Because the merged entities can merge existing operating structures and reduce any overlap, there is usually an opportunity to realize significant cost savings, as well as related revenue synergies.
But in 1987, Klynveld Main Goerdeler (KMG) merged with Peat Marwick Mitchell to create KPMG Peat Marwick, reducing the number of top-tier players to the "Big Eight." Then in 1989, Ernst & Whinney merged with Arthur Young, and Deloitte Haskins & Sells merged with Touche Ross, further consolidating the industry to the "Big Six." In 1998, the merger of Price Waterhouse and Coopers & Lybrand created the "Big Five," and the dissolution of Arthur Andersen in 2002 left the "Big Four."Another, more recent example can be found in the online brokerage business, where after several rounds of consolidation, three major competitors have emerged: E*Trade (following its acquisitions of Brown Co and Harris Direct), Ameritrade (which recently won a bidding war for TD Waterhouse), and Charles Schwab.If you’ve got lots of different debts and you’re struggling to keep up with repayments, you can merge them together into one loan to lower your monthly payments.You borrow enough money to pay off all your current debts and owe money to just one lender.You could also consolidate your debts into an unsecured personal loan, but again you’ll need a good credit rating to get the best deals.consolidation - the act of combining into an integral whole; "a consolidation of two corporations"; "after their consolidation the two bills were passed unanimously"; "the defendants asked for a consolidation of the actions against them"To this catalogue of circumstances that tend to the amelioration of popular systems of civil government, I shall venture, however novel it may appear to some, to add one more, on a principle which has been made the foundation of an objection to the new Constitution; I mean the ENLARGEMENT of the ORBIT within which such systems are to revolve, either in respect to the dimensions of a single State or to the They ought, with equal care, to have preserved the FEDERAL form, which regards the Union as a CONFEDERACY of sovereign states; instead of which, they have framed a NATIONAL government, which regards the Union as a He had them in the greatest order--his tapes and his files, his receipts, and his letters with lawyers and correspondents; the documents relative to the wine project (which failed from a most unaccountable accident, after commencing with the most splendid prospects), the coal project (which only a want of capital prevented from becoming the most successful scheme ever put before the public), the patent saw-mills and sawdust would not achieve its main purpose: "What's more, these potential transactions represent a near-term fix to the industry's difficulties and do not address systemic profitability problems and root causes.You should get free debt advice before taking out a debt consolidation loan.A better option might be a 0% or low-interest balance transfer card.It can also offer a different 'angle' on new language, which is productive for learners with different styles.These example sentences are selected automatically from various online news sources to reflect current usage of the word 'consolidation.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. can be seen in the evolution of public accounting over the twenty years.Debt consolidation can be a useful strategy in some situations but for many it can involve extra costs, and potentially makes a difficult situation much worse.That's why it's best to get expert debt advice before taking out a consolidation loan.