Interpublic tumbles after Publicis denies takeover talks

theflyonthewall.com

Interpublic Group (IPG) is falling after France's Publicis Groupe (PUBGY) yesterday said that it had not had any discussions with Interpublic about buying that company, and had not hired a bank to hold talks with Interpublic. On Friday, the Financial Times’ alphaville section reported that Publicis, an ad agency, may be weighing a bid for Interpublic Group, which provides advertising and marketing services. In mid-morning trading, Interpublic sank 97c, or 8.80%, to $10.01, after rallying on Friday. Meanwhile, Publicis added 21c, or 1.67%, to $12.80.

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