Accounting firm ‘in talks to acquire Arthur Andersen’

Arthur Andersen, damaged by its connections to bankrupt client Enron Corp, is talking with Big Five accounting firm Deloitte & Touche Tohmatsu about selling some or all of its operations, according to reports.

Negotiations began last week between New York-based Deloitte and Chicago-based Arthur Andersen LLP, the New York Times reported late last night on its website. The newspaper cited sources involved in the talks who spoke anonymously.