Interpublic Group of Cos. backed away from negotiations to acquire London-based PR shop Shandwick. Executives close to Interpublic said it was concerned with the price. Shandwick Chairman Lord Chadlington did not return calls by press time. London financial analysts expected a deal shortly, priced at approximately $160 million. Separately, Interpublic is still said to be close to acquiring Hill, Holliday, Connors, Cosmopulos, Boston.
Copyright February 1998, Crain Communications Inc.