Publicis unveils pitch to merge with True North

Published on .

In an apparent bid to derail True North Communications' combination with Bozell, Jacobs, Kenyon & Eckhardt, French advertising agency Publicis revealed today it has offered to combine with True North through either a merger or an acquisition. According to documents released by Publicis, the move was triggered by True North's plan to purchase BJK&E, a step Publicis said it formally opposes as the largest holder of True North common stock. It owns 18.5% True North's common.

True North rebuffed the Publicis proposal in a letter released this afternoon.

For the full text of this article and both letters, see FEATURES

Copyright November 1997, Crain Communications Inc.

Most Popular
In this article: