U.S. Markets closed
  • S&P 500

    4,704.54
    +15.87 (+0.34%)
     
  • Dow 30

    35,870.95
    -60.10 (-0.17%)
     
  • Nasdaq

    15,993.71
    +72.14 (+0.45%)
     
  • Russell 2000

    2,363.59
    -13.42 (-0.56%)
     
  • Gold

    1,861.20
    -0.20 (-0.01%)
     
  • Silver

    24.88
    -0.02 (-0.08%)
     
  • EUR/USD

    1.1369
    -0.0006 (-0.0568%)
     
  • 10-Yr Bond

    1.5890
    -0.0150 (-0.94%)
     
  • Vix

    17.59
    +0.48 (+2.81%)
     
  • GBP/USD

    1.3497
    -0.0003 (-0.0216%)
     
  • USD/JPY

    114.3040
    +0.0520 (+0.0455%)
     
  • BTC-USD

    54,249.86
    -842.23 (-1.53%)
     
  • CMC Crypto 200

    1,402.14
    -65.80 (-4.48%)
     
  • FTSE 100

    7,255.96
    -35.24 (-0.48%)
     
  • Nikkei 225

    29,683.09
    +84.43 (+0.29%)
     

WPP denies it plans bid for U.S. group IPG

LONDON (Reuters) - British advertising group WPP (LSE:WPP) has dismissed as "completely inaccurate" a media report suggesting it is considering a takeover bid for rival Interpublic (NYS:IPG).

The Daily Mail reported on Friday that rumours were rife that WPP, the world's largest advertising group, is lining up a $25-a-share cash offer for the U.S. group. Interpublic's shares closed on Thursday at a little more than $17.

"We strongly refute this report," a WPP spokesman said on Friday. "It is completely inaccurate."

Shares in WPP were up 1.6 percent at 1335 GMT, outperforming a 0.4 percent gain by the FTSE 100 index. The shares are up nearly 4 percent since the group reported strong results in October, showing it was winning market share.

Analysts have questioned whether the British group would look to make further acquisitions after its two biggest challengers, Omnicom (NYS:OMC) of the U.S. and France's Publicis (PAR:PUB), announced merger plans in July.

The combined group would overtake WPP as the world's largest advertising company.

(Reporting by Kate Holton; Editing by David Goodman)