Accenture, the technology consulting and outsourcing firm, said Friday it plans to offer 115 million shares of common stock at between $13 and $15 per share.

Formerly known as Andersen Consulting, Accenture could raise as much as $1.7 billion in proceeds from the IPO with a potential market value of $5.9 billion.

The underwriters, led by Goldman, Sachs & Co. and Morgan Stanley Dean Witter, will have access to 17.25 million more shares in the event of heavy demand.

Accenture initially filed its prospectus in mid-April. Its IPO would be the second by a consulting division, or former division, of a Big Five accounting firm.

In February, KPMG Consulting Inc. raised $2 billion when it went public.

According to the amended IPO prospectus, partners will control 82 percent of Accenture once it goes public.

Credit Suisse First Boston; Deutsche Banc Alex. Brown, JPMorgan; Salomon Smith Barney; Banc of America Securities LLC; Lehman Brothers; Merrill Lynch & Co. and UBS Warburg also will participate in the offering.

After it goes public, Accenture will have more than 394.5 million common shares outstanding, including 212.3 million shares held by its partners.

That would giving Accenture a potential initial market capitalization of $5.9 billion based on a price of $15 a share — the high end of the projected price range.

But Accenture said the number of outstanding shares could rise to close to one billion shares if its partners decide to exchange their class I common shares into class A shares.

Excluding the number of shares set aside for over-allotments, the IPO could raise as much as $1.7 billion if the shares were to be sold at $15 each.

KPMG’s market value was nearly $3 billion, based on Friday’s closing price.

The 2,500 or so partners will be granted shares worth an average of $5 million. However, Accenture chairman and chief executive Joe Forehand will be granted 1.4 million shares worth over $20 million if the IPO goes off at the top of the price range.

Accenture said in the SEC filing that it plans to use $839 million of the proceeds from the IPO for the transition to a corporate structure as it further separates itself from Arthur Andersen.

Specifically, Accenture plans to use $245 million for debt repayment and the rest for working capital and other general corporate purposes, it said in the filing.

In the fiscal year ended August 31, 2000, Accenture had pro forma revenues of nearly $9.8 billion. Operating income came to $978 million while net income was $247 million.

Accenture employs more than 75,000 people in 46 countries. Last Thursday, it announced plans to lay off up to 1,400 people, including 800 who are being offering a voluntary sabbatical.

SEC Files Complaint Against Redneck Foods

The Securities & Exchange Commission said Friday that it filed a complaint in U.S. District Court against Redneck Foods, Inc., alleging that the company failed to make available to the investing public current and accurate financial information.

Specifically, the complaint alleges that Redneck Foods has not filed its form 10-K for the fiscal years ended December 31, 1998, 1999 and 2000 and its quarterly reports on Form 10-Q for the fiscal quarters ended March 31, June 30 and September 30, 1999 and 2000.

The SEC said that Redneck Foods admitted to the violations and consented to the entry of a final judgment enjoining it from further violations.

It was ordered to file its delinquent reports on or before June 22, 2001.

G.E. Makes Bigger Concessions to EU, Says Report

G.E. told the European Commission it would significantly increase the number of concessions it’s willing to make in order to complete its purchase of Honeywell, according to Reuters.

G.E. reportedly said it would sell Honeywell’s regional jet engine businesses and sell Honeywell’s air turbine starter business.

Honeywell has roughly 80 percent of the market and sells the air turbine starters to all three major makers of jet engines.

G.E. also said it would sell Honeywell’s marine gas turbine business and sell some other portions of Honeywell’s avionics and non-avionics business, such as auxiliary power units, weather radar and navigation equipment.

G.E. also promised not to be a launch customer for seven years. G.E. has been criticized for this practice whereby it is the first to put its own G.E. engines on new aircraft.

More IPO News

• Alliance Data Systems Corp. closed Friday at $14, up $2 or 16.7 percent, in its first day of trading. Bear Stearns & Co. and Merrill Lynch & Co. were the co-underwriters.

• Principal Financial Group Inc., the insurer and pension plan manager, said it plans to offer about 109.5 million shares at $19 a pop in an initial public offering in conjunction with the conversion of Principal Mutual Holding Co. from a company owned by its policyholders to a publicly-held company. Based on the expected stock price, the company anticipates proceeds of about $1.99 billion, or $2.29 billion if underwriters exercise their option to purchase additional shares.

Today’s Layoff News

• Internet consulting firm Modem Media Inc. said on Friday it has cut 76 jobs, or 10 percent of its workforce.

• Caliber Learning Network Inc. canned 88 people, or 75 percent of its remaining work force, and discontinued most training operations.

• Nokia Corp., said it plans to cut 300 jobs at its production plant in Bochum, Germany.

• Motley Fool fired 45 people, according to fuckedcompany.com.

From the CFO.com “Brief” Case

• The Federal Trade Commission is accusing Marathon Ashland Petroleum LLC of intentionally withholding gas supplies for the Chicago and Milwaukee markets last summer to keep prices high, according to The Wall Street Journal. The paper adds that this wasn’t illegal and the Federal agency did not take action.

• Peregrine Systems Inc. said on Monday it will acquire Remedy Corp.for $1.08 billion in stock and cash in a merger of rival sellers of software for small and medium-sized businesses.

• PepsiCo said its planned $13.8 billion acquisition of Quaker Oats Co. will be delayed until the third quarter due to concern at the Federal Trade Commission over whether PepsiCo will be able to leverage Quaker’s Gatorade, the dominant sports drink, to gain undue advantage over other beverage manufacturers, according to wire service reports.

• President Bush has decided to Susan Schmidt Bies to fill one of two vacancies on the Federal Reserve Board, the White House said on Friday. Bies is the executive vice president of risk management at First Tennessee National Corp.

• John Hancock Financial Services Inc. on Friday filed a shelf registration to sell up to $1 billion in debt securities, preferred and common stock, warrants, contracts, units and trusts.