Aegis shares up 7% on talk of Synovate sale
Aegis, which comprises a media-buying business alongside the Synovate research arm, has been viewed as a possible takeover target for some time. Analysts say that a purchase of Synovate would make a buyout of the remaining business likely.
There has also been speculation that a rival bid for Synovate might come from German research agency GfK, whose planned merger with TNS three years ago was beaten off by a bid from WPP.
Synovate’s value has been estimated at around £500m.
Aegis’s shares rose by 9.8p yesterday to 151p, and closed today at 150.2p.
Ipsos confirmed yesterday that its board had given management the green light to proceed with the talks.
UPDATE 7/6/11 18:00: Advertising group Publicis has ruled out making a bid for Synovate, and WPP is also reportedly not interested in buying the agency.
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