Mouchel secures 86.3% of Parkman

Mouchel has received valid acceptances in respect of 30,347,206 Parkman shares, equivalent to 86.3%.

The Mouchel/Parkman merger was announced at the end of August. Under the deal, each Parkman share will be exchanged for 1.23 new Mouchel shares.

The new consultancy will be called Mouchel Parkman. Parkman's Richard Cuthbert will be appointed as chief executive and Mouchel's Kevin Young will remain as finance director. The non-executive chairman will be Richard Benton, currently at Mouchel.

The combined group will have a total of 67 managed services contracts and a total orderbook of £700m.