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Envoy delays Leagas Delaney deal

Published on .

Canada's Envoy Communications Group delayed its $85.8 million acquisition of London hot shop Leagas Delaney from January to March 31 due to "market conditions." Envoy's share price has slipped since it announced the deal last month. Envoy Chief Financial Officer Joe Leeder told analysts: "We've extended the closing date to give Envoy the ability to finance this transaction in a better market environment."

Copyright December 2000, Crain Communications Inc.

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