AEGIS TO OPEN BOOKS FOR PROSPECTIVE BUYERS
Meanwhile Vincent Bollore Ups Stake to 14.7%
VINCENT BOLLORE EXPLAINS LATEST MOVES
Havas, Aegis to Remain Independent, While He Pushes Into Media
HAVAS DISTANCES ITSELF FROM AEGIS TAKEOVER TALKS
Says Statements By Chairman Bollore Do Not Reflect Company Agenda
WPP EYES AEGIS ACQUISITION
Teams With Equity Firm in Counter Move Against Publicis
VINCENT BOLLORE UPS STAKE IN AEGIS TO 11.38%
Mystery Surrounds Latest Move
BOLLORE UPS AEGIS STAKE TO 8%
Becomes Second-Largest Shareholder
AEGIS IS TARGET OF TAKEOVER TALKS
Suitor Believed to Be Publicis
AEGIS GROUP REPORTS FIRST-HALF REVENUE UP 15%
CEO Declines to Discuss Vincent Bollore Share Acquisition
VINCENT BOLLORE SELLS SHIPPING COMPANY FOR $600 MILLION
Speculation Swirls About His Plans for the Cash
VINCENT BOLLORE ACQUIRES 6% OF AEGIS GROUP
Aegis Owns Carat Global Media-Buying Agency
The news was announced in a statement from Bollore Group, which said it declared the Oct. 14 purchase to the authorities in keeping with U.K. regulations.
The 30% line
The stake provides Mr. Bollore with stature enough to command the attention of Aegis management but not enough to require an offer. In the U.K., shareholders who own 30% of a company must make a purchase offer.
London-based Aegis Group is traded on the London stock exchange and is the world's seventh-largest marketing services organization, with worldwide revenues of $1.4 billion, according to Ad Age figures. Carat is its global media buying-and-planning entity.
Mr. Bollore upped his stake to more than 17% just as French ad company Publicis Groupe said it would not make an offer for Aegis. However, Publicis reserved the right to come back in if a third party announces a firm intention to make an offer or if the Aegis board recommends it makes an offer. If Publicis hadn’t added the caveat, it would have to wait six months to make an offer under U.K. law.
Meanwhile, Aegis’ investment banker Greenhill & Co., London, has opened up a “data room,” putting the media company’s financials up for inspection by prospective buyers. One of those interested is WPP Group, which is eyeing Aegis’ research company Synovate. WPP has teamed with San Francisco private equity firm Hellman & Friedman.