Paris-based Publicis appears ready to buy marketing services giant Frankel & Co. for $170 million in cash, which would give founder Bud Frankel more than $113 million. The deal should be final by mid-January. Frankel had $86 million in gross revenues for 1998. Losing bidders are believed to have been WPP Group and Omnicom Group. Frankel declined to comment on the Publicis deal.
Copyright January 2000, Crain Communications Inc.