Interpublic Company shares were up 12% to nearly $11 on market speculation that Publicis Groupe was preparing a takeover offer of approximately $6 billion for the company.
The initial
report that triggered the speculation was a blog published by the Financial Times.
The IPG trading activity passed a certain threshold that triggered a call to the holding from the New York
Stock Exchange, where the company’s shares are traded, requesting that IPG issue a statement addressing the speculation.
According to sources, if some big transaction was up that the
company was aware that was moving its stock, it would have been required to disclose it, once it got the call from the NYSE.
IPG responded with this statement: “We are aware of the
activity in our stock today. It is our policy not to comment on market rumors or speculation.” Translation: the company is not currently involved in talks or aware of a pending takeover bid.
A Publicis rep could not be immediately reached for comment. According to sources however, the company has discretely let it be known that as of Friday anyway, it was not in conversations with
banks about a big transaction. To acquire control of Interpublic, sources said, such talks would have to be occurring.