Shares of WPP stock were trading up -- near their 52-week high -- following a report that the world's largest agency holding company is preparing a cash offer to acquire one of its smallest, Interpublic. The report by the U.K.’s Mail Online speculated that WPP “could be lining up a $25-a-share cash offer” for Interpublic, whose shares closed yesterday at $17.28.
A WPP spokesperson referred a MediaPost’s Agency Daily request for comment to a statement reported by Bloomberg that “WPP strongly refutes today's story in the Daily Mail about an approach to Interpublic.”
Interpublic has been seen as one of the most likely next acquisition targets following the announcement of Publicis’ and Omnicom's deal to merge into what would become the world's new biggest agency holding company, though that deal is still pending regulatory and shareholder approval.
I've been saying this for weeks on "AdScam." You just know the "Poisoned Dwarf" will not rest until his evil empire is once again the biggest and baddest. Remember when he bought Ogilvy, everyone said he couldn't pull it off. He did. Michael Roth will walk with his $25 million golden parachute and WPP will once again be the Uber-BDHC.
Lot of "P's" to keep track of.