Saatchi & Saatchi continued to be the subject of takeover rumors the week of the 30th. Industry executives speculated MacManus Group or one of its networks -- D'Arcy Masius Benton & Bowles or N.W. Ayer & Partners -- was a potential buyer in a "reverse takeover" where privately owned MacManus would go public, trading under Saatchi's stock listing. Spokesmen for McManus and Saatchi both denied the rumors, and Bob Seelert, Saatchi's chief executive, also denied the takeover talk in a statement.
Copyright April 1998, Crain Communications Inc.