Cordiant Communications Group, London-based owner of the Bates Worldwide agency network, declined comment on a report on June 28 suggesting it's holding informal talks with at least two U.S. agencies about a deal that could value the company at more than $1 billion. "The company will not speculate on market rumor,'' a spokesman said. Speculation has been that Interpublic Group of Cos. and True North Communications would be the likeliest U.S.-based buyers of Cordiant. A True North spokeswoman declined comment, citing company policy. Interpublic didn't return calls by deadline.
Copyright June 2000, Crain Communications Inc.