A bidding war for control of media buying agency Aegis now looks inevitable, following confirmation this morning that WPP is considering a bid for the company, with its main interest in the Synovate market research operation.
Martin Sorrell, chief executive of WPP, confirmed that his company is considering a joint bid with American private equity firm Hellmann & Friedman, a collaboration first alluded to last week by a source close to the company (see
Aegis Confirms Takeover Bid As Publicis Rumours Fly).
In an interview with this morning’s Daily Telegraph, Sorrell confirmed speculation over WPP’s interest in Synovate, Aegis’s market research business. Meanwhile, a report in the Financial Times claimed that Aegis is not considering an alliance with rival Havas, whose chairman Vincent Bollore has been steadily increasing his own stake in the company, yesterday reaching 15%.
The flurry of interest surrounding Aegis was sparked by confirmation nearly three weeks ago that rival Publicis had tabled a bid for the firm, valuing it at around £1.8 billion (see UBM Considering Sale Of NOP World).
Since then Aegis has confirmed preliminary merger talks have been held with several potential bidders, although the firm was quick to state that there can be “no certainty” that an offer for the company will result.
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