True North sues Publicis over mergerThe True North Communications/Publicis saga continued today as Chicago-based True North said it's suing Publicis, Paris, for more than $60 million. The filing with the London Court of International Arbitration seeks compensation for damages stemming from the merger of Publicis Communication and Publicis SA. When the two merged, True North received an 8.8% stake in the new company; it had held a 26.5% stake in Publicis Communication. True North claims the exchange was inadequate.
Copyright January 1999, Crain Communications Inc.