Amid speculation that a hostile takeover bid may be in the offing, French agency holding company Havas Friday said it raised $501 million in new capital via a new share offering. The company, the
parent of MPG, said the new capital gives it one of the lowest net debt ratios among the major agency holding companies. While it's unclear how Havas' improved balance sheet might figure into the
plans of Vincent Bollore, the French corporate raider who has gradually been increasing his holdings in the company, Havas CEO Alain de Pouzilhac described the successful offering as a signal of
"broad-based support from our shareholders."
