French advertising group, Publicis Group has confirmed that is has held “preliminary conversations” about a possible offer for UK media and market research group Aegis.
In a statement to the City last night, Publicis explained that its discussions were “extremely premature” and are not necessarily building towards an offer for Aegis.
Publicis’ confirmation marks an end to speculation surrounding Aegis, who confirmed on Wednesday that it had received an approach at 140p per share, but did not reveal the source (see Aegis Confirms Takeover Bid As Publicis Rumours Fly).
Aegis are expected to make a further statement concerning its possible take-over in the near future, with the company’s last speculation-busting statement promising more details “in due course.”
Recently Aegis has bought a number of businesses, with the most recent purchases including Irish advertising firm, Brindley Media Group, which it acquired for a maximum total consideration of €12 million (see Aegis Buys Digital Creative Agency Glue).
In its trading statement published last month, Aegis, reported a 14% increase in revenue for the six months to June 30th, reaching £389.0 million, up from £338.9 million this time a year ago (see Aegis Reports 14% Increase In Revenues For First Half Of 2005).
Half-year profit for the group rose to £35.6 million from £35.4 million a year earlier, helped by strong growth in its market research business, Synovate which increased revenues by nearly 18%. Aegis’s digital network, Isobar, also enjoyed a healthy first half to the year, seeing revenues rise by 20%.
Related Links
