*WPP, Young & Rubicam Appear Ready to Merge

Share this content:
British advertising conglomerate WPP, London, has reportedly reached an interim agreement to purchase Young & Rubicam Inc., New York, for an estimated $5.5 billion. accrding to news reports. If approved by shareholders and government regulators, the deal will result in the creation of the world's largest advertising, marketing and media services group.


Neither company commented on the reports.


Reuters news agency yesterday said WPP had agreed in principle to acquire Y&R, one of the last independently-run agencies worldwide, citing a source close to the negotiations who said, "A takeover has been agreed in principle but is still subject to approval by clients among others. The deal should be ready to be announced midweek."


Nevertheless, it was unclear how far a deal had actually gone, according to the report.


The agency said London insiders were claiming that Y&R's board had already given a nod to the terms, yet sources close to Y&R in New York were still saying that no board action had yet been taken on the takeover.


On the London Stock Exchange, the share price for WPP closed 6.5 percent down at 911 pence, while Y&R shares fell 4 percent to $55 in New York.
Loading links....

Sign up to our newsletters

Company of the Week

Since 1985, Melissa Data has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa Data offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

Find out more here »

DMN's Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here