There will only be EB Wipfli in your dreams. We were just forwarded an email that Eide Bailly CEO Jerry Topp sent to the firm announcing that the deal is no longer happening.
From: Jerry ToppSent: Friday, February 24, 2012 12:34 PMTo: ~!All UsersSubject: Important Merger UpdateImportance: HighI have some significant news to share with you today. The management teams of both Eide Bailly and Wipfli have decided to discontinue merger discussions because we could not come to agreement on key terms. The decision not to proceed with the merger was mutual and amicable. Both firms will continue forward as independent CPA firms.The partners were briefed earlier. We will shortly begin the process of notifying clients. Later this afternoon, we will issue a joint press release with Wipfli. We’re keeping this story brief and to the point. Please help us stay on message. Remember that anything you send by e-mail can wind up in the press. So, if it’s important that you share this information with colleagues or clients, send them the attached press release.When we started this process I stated, “We do not have to do this deal, however it is an opportunity we feel we need to explore.” We have done that and have decided to take a pass. We will learn from this, make changes to our Firm and continue on with the strong “Eide Bailly” brand we have created.We are in the heart of our busy season and we certainly don’t want to distract you from client service. Our plan is to quickly communicate this in an appropriate manner, so we can move on with “business as usual.”If you have any questions, please talk to your PIC. If you are contacted by someone from the media, please direct them to Liz Stabenow in communications. Wipfli is advising its partners and staff to follow the same protocol.With this shift in focus, I look forward to redirecting our strategies and continuing to build the great firm that we have.Jerry