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Houthoff votes to remain independent

One of the Netherland''s last remaining independent commercial practices has voted against a UK merger.

30 October 2001

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One of the Netherland's last
remaining independent commercial practices has voted against a UK
merger.

Houthoff
Buruma voted last week to retain independence, ending speculation over talks
with Norton Rose. In a statement, Houthoff says it looked intensively at merging
with an English firm of the same calibre. The result of the firm's examination
was that full merger would have been difficult to bring about due to the higher
returns of top English firms. It was decided that a full merger could only have
been effected if Houthoff Buruma had substantially increased its rates and hived
a part of the firm off.

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