News Brief
Havas Buys Tempus
Jul 19, 2001, 12:00 AM
Havas Advertising and Tempus Group have reached an agreement under which Havas Advertising would acquire all of the share capital of Tempus. Havas Advertising will offer 541 pence per Tempus share in cash, valuing Tempus at approximately 425 million pound sterling (Euros 700 million). The transaction is expected to be accretive in 2002. Through the acquisition of Tempus, Havas Advertising will create the fourth ranked media network worldwide based on combined billings of euros 16.5 billion for 2000.
- Adam Bernard
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