The two firms, which are held together by umbrella organisation Andersen Worldwide, have been at war for two years over revenue sharing and governance disagreements.
As it unveiled annual results, Jim Wadia, Arthur Andersen managing partner and chief executive officer, is reported to have said he wanted to bring the dispute to an end and remain under the Andersen Worldwide umbrella.
An independent international arbiter has been appointed to deal with the dispute - each is claiming damages from each other and the rights to the Andersen name are in dispute.
Andersen Consulting, however, is reported to have rebuffed the overture, saying that it wants the arbitration to run its course. The arbiter is expected to announce its decisions next year.
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