B-M moves from 'executional delivery.'
Article Abstract:
Young & Rubicam is selling 16.6 million shares in its subsidiary Burson-Marsteller for $22.50 per piece, or for a total of $375 million. A 108-page prospectus offering issued by the company stated that of the total shares to be put on sale, 6,666,667 shares, amounting to $150 million,is owned by Young & Rubicam while the remaining 9,333,333 shares, worth C$210 million, is controlled by 60 other stockholers. Young & Rubicam stressed it expects to net $139.5 million from the sale after costs are deducted.
Publication Name: O'Dwyer's PR Services Report
Subject: Business
ISSN: 1043-2957
Year: 1998
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Interpublic Group pays dearly for Deutsch Inc
Article Abstract:
Interpublic Group of Cos Inc will pay between $250 million and $350 million for the acquisition of Deutsch Inc, according to estimates by Adweek and Advertising Age. On the other hand, New York Times advertising columist Stuart Elliott says that the purchase price is 'somewhat less.' The amount is considered well above the current rate for advertising agencies, which most of them sell for a price equal to their revenues. Deutsch generated revenues of $133 million in 1999, according to Advertising Age.
Publication Name: O'Dwyer's PR Services Report
Subject: Business
ISSN: 1043-2957
Year: 2001
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MS&L parent selling to Leo (Burnett)
Article Abstract:
The Leo Group has announced a deal to acquire the McManus Group. The company said that it will also launch an initial public offering for the combined operation, which is expected to gross $2 billion. Leo Group owns the Leo Burnett ad agency, while MacManus Groups owns the public relations firm Manning, Salvage, and Lee, which has reported total fees of $75 million in 1998. Japanese ad group Dentsu will take a 20% stake in the combined group.
Publication Name: O'Dwyer's PR Services Report
Subject: Business
ISSN: 1043-2957
Year: 1999
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