Aegis Confirms Rival Bids For Takeover

Media buying firm Aegis has confirmed that preliminary discussions over merger possibilities have been held with “more than one” potential bidder, casting further doubt on French firm Publicis’ chance of success in securing a swift takeover proposition.

Aegis, which owns media buying firms Carat and Vizeum, said in a statement this morning that “representatives and advisers have met with more than one potential offeror to share non-public information on the Company.” It was made clear, however, that there can be “no certainty” that an offer for the company will result from these talks, with Aegis promising only to keep shareholders informed of any developments.

The announcement follows Aegis’ confirmation last month that it had received an approach from an unnamed bidder valuing the firm at around £1.57 billion. Publicis later came forward to confirm it was the mystery suitor (see Publicis Confirms Aegis Bid Rumours), although other parties are now believed to be interested (see Rivals Mull Battle With Publicis Over Aegis).

Yesterday saw French entrepreneur Vincent Bollore stirring up more speculation surrounding the company, as he raised his stake in Aegis for the second time in as many weeks. Bollore now commands a share of 11.4% in the company, placing him in a position to force a higher price from potential bidders by refusing to tender his shares under UK merger regulations (see Bollore Increases Aegis Stake To 11.4%).

Aegis Group: 020 7070 7700 www.aegisplc.com