Publicis denies holding talks with Interpublic
By Daniel Farey-Jones, campaignlive.co.uk, Monday, 06 August 2012 09:18AM
Publicis Groupe has denied a report that it had been working with a group of banks on a $6bn ($3.8bn) bid for Interpublic (IPG), which would put it ahead of Omnicom as the world's second-largest advertising group.
The Friday afternoon report on the FT's Alphaville blog claimed the deal had been in preparation for six months and would be priced in the region of $15 per share.
IPG’s share price was last week trading at under $10 per share, having dropped from earlier in the month after it revealed a 3.1% drop in second-quarter profits.
On Friday an unknown buyer acquired 40 million Interpublic shares at an estimated cost of $400m.
Over the weekend, Publicis Groupe issued a statement denying "having engaged in any discussions with Interpublic and confirms it has not commissioned any bank to undertake such discussions".
Speculation of a Publicis Groupe-Interpublic deal has done the rounds before, with suggestions that Publicis Group chief executive Maurice Lévy would like to close his long reign with a defining move.
Lévy is due to step down soon and the Publicis Groupe board is set to initiate the process of searching for his successor in September.
Publicis and Interpublic are the world’s third- and fourth-largest holding groups respectively.
The world’s fifth largest, Dentsu of Japan, is set to complete a transformative £3.2bn acquisition of Aegis in the next few months, bringing it much closer to Interpublic’s size.Follow @DanFareyJones
This article was first published on campaignlive.co.uk
- Senior copywriter story uk limited Negotiable depending on experience, Edinburgh
- Senior Marketing Manager Cutis Developments £50,000 - £60,000 per annum , Victoria, London (Greater)
- Senior Digital Account Manager AF Selection £26,000 - £30,000, West Midlands
- Brand Manager Tarsh Lazare Marketing Recruitment £30k-£35k, Welwyn Garden City, Hertfordshire
- Creative Strategist (commercial) Ultimate Asset £45000 per annum + 40% bonus, London
- Daily Mirror publishes its own tits on Page 3
- 'This girl can' tops Campaign Viral Chart
- John Brown Media appoints Rebekah Billingsley to head of digital and content strategy role
- 'You don't have to explain yourself if you are getting the job done,' says Tracy De Groose on work and motherhood
- Publicis Groupe extends deadline for Sapient deal again
- Lidstone exits Havas amid restructure