EU APPROVES INTERPUBLIC'S TRUE NORTH PURCHASE

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(June 22, 2001) -- The European Union Commission approved the acquisition of True North Communications by Interpublic Group of Cos., clearing the last hurdle to complete the deal. True North shareholders approved the deal June 19 and the waiting period for U.S. antitrust challenges expired May 18. The stock-swap acquisition, worth $1.63 billion at Thursday's closing prices, is expected to be completed as early as next week. -- Mercedes Cardona

Copyright June 2001, Crain Communications Inc.

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