"Aegis confirms that it has received an approach at an indicative level of 140 pence per Aegis share," is all that Aegis would acknowledge in its official statement, made as part of its requirements to inform investors. "However, the approach is preliminary in nature and there can be no certainty that an offer will be made."
The Aegis board was expected to meet around midday U.K. time today to discuss the offer, and stated: "A further announcement will be made in due course."
French newspaper Les Echos reported on its Web site that Paris-based Publicis, the parent of Starcom MediaVest Group, Zenith Optimedia Group, and ad agencies such as Leo Burnett, Saatchi, and Fallon, has made a "friendly offer" for Aegis, although that could not be confirmed at press time.
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Other publications speculated that the offer had either been made by Omnicom, the parent of OMD, PHD and agencies such as DDB and BBDO, or Havas Chairman Vincent Bollore. Bollore recently took a 6 percent stake in Aegis, the parent of Carat, Vizeum, Isobar, Posterscope, and research group Synovate. Bollore initiated his takeover of Havas last year with a similar stake, and recently liquidated his interests in a shipping conglomerate to free up cash, presumably to make a run at Aegis.
Omnicom, already the world's biggest advertising organization, has been reported to have an unsuccessful bid late last year to acquire Aegis, though that report has never been confirmed.
While speculation continues that WPP Group Chairman Martin Sorrell is keenly interested in Aegis, WPP is believed to be financially over-extended due to other recent acquisitions, and may have to sit this one out on the sidelines.