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Hill Holliday deal cost $123 mil in stock for IPG

Published on .

Interpublic Group of Cos.' acquisition of Hill, Holliday, Connors, Cosmopulos cost more than $123 million in stock, and Carmichael Lynch was worth more than $29 million, according to documents filed July 8 with the Securities & Exchange Commission. According to Interpublic's filing, the main Hill Holliday shareholder, CEO Jack Connors, received Interpublic shares worth approximately $74 million, and the main Carmichael Lynch shareholder, the company's employee stock ownership plan, received nearly $22 million in stock.

Copyright July 1998, Crain Communications Inc.

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