In trading volume nearly seven times its average, Interpublic Group's stock on Tuesday dipped as low as $10.05 per share before rebounding slightly to close at $10.51, still a new 52-week low.
Analysts attributed the high-volume activity to IPG's one-day offer of convertible perpetual preferred stock to institutional investors, which is expected to raise about $600 million.
Read the whole story at Adweek, October 18, 2005 »