Bollore Makes Another Run At Aegis Board, New Vote Set

Keeping true to his vow to remain an ardent suitor, Vincent Bollore has forced Aegis Group to hold a third meeting of its shareholders to vote on appointing his nominees to the Aegis board, a move many see as a prelude to a takeover of the U.K.-based agency holding company.

Aegis Group this morning said it has scheduled a new meeting for April 4, but emphasized that its shareholders have overwhelmingly rejected Bollore's proposed nominees - former Cannes Advertising Festival owner Roger Hatchuel, and French businessman Philippe Germond - on grounds that Bollore also is chairman of Paris-based rival Havas, and that expanding his control over the Aegis board would represent a conflict of interest.

Bollore owns 29.09% of Aegis shares, just below the 30% that U.K. law would require him to make a formal offer to acquire the company. On Tuesday, Aegis informed its shareholders that Bollore has control of Aegis voting rights represent 29.9% of the company.

While the vote on the Bollore's nominations to the Aegis board has proven to be a stalemate, industry speculation has been that Aegis - the parent of Carat, Isobar, Vizeum, Posterscope and Synovate - ultimately will go into play, and might even be split up among various companies, also including WPP Group. Industry executives also believe Omnicom, the agency holding company with the best financial structure, also is a potential suitor.

advertisement

advertisement

Recently, rumors have surfaced that David Verklin, the head of Aegis' Carat North America and Asia units, might be a candidate to succeed Joe Uva, who is leaving as head of Omnicom's OMD unit. Omnicom executives have denied they are in talks with Verklin. Verklin currently is the largest shareholder on Aegis' management team.

Next story loading loading..