March 13, 1993 |
Omnicom to Buy TBWA: Omnicom Group, one of the world's largest advertising organizations, has agreed to buy TBWA International, the ad agency perhaps best-known for creating the Absolut vodka print campaign. The companies, both based in New York, said the deal will involve an exchange of an unspecified amount of Omnicom stock for all the shares of privately held TBWA. Ad industry analysts estimate the deal to be worth in excess of $100 million.
October 2, 1999 |
Omnicom Group Inc., the world's biggest advertising and communications holding company, agreed to buy MARC Inc., a market research company, for about $100 million in cash, in a deal that would boost its nonadvertising activities. Omnicom, which owns TBWA Worldwide, BBDO Worldwide and DDB Worldwide advertising companies, would pay $20 for each MARC share, 42% more than the Irving, Texas-based company's closing price Thursday of $14.13. On Friday, MARC shares soared $5.56, or 39%, to close at $19.
May 3, 1989 |
Amid rumors of possible "white knights" rescuing the Ogilvy Group from its unwanted British suitor, WPP Group, Ogilvy's stock was the most heavily traded over the counter Tuesday. Ogilvy closed up 62.5 cents at $49.75 a share, with more than 3 million shares trading hands. Some executives and analysts speculated that Ogilvy might escape WPP by merging with another American advertising holding company--such as the giant Omnicom Group or the Interpublic Group of Companies. Said one top New York ad executive who asked not to be named: "Give it time.
August 25, 2001 |
Some of the UPN television network's biggest advertisers will receive a package of "value-added promotions" in exchange for buying traditional air time at a premium for the upcoming season, a source said Friday. The promotions, which could run the range from product placements to show sponsorships, are part of a recent deal between UPN and the media-buying arm of ad agency Omnicom Group Inc., according to a source familiar with the situation.
May 8, 1989 |
WPP Group PLC, making a big pitch to win Ogilvy Group Inc., today raised its buyout proposal for the reluctant advertising firm to $800 million from the previous $725 million. WPP, the parent of J. Walter Thompson, sweetened its buyout proposal by $5 per share to $50. The previous bid worked out to $725 million. Ogilvy, which has been critical of WPP's takeover effort, said in a statement that it had been notified of the higher proposal and that it will "be considered by Ogilvy in a proper manner and in due course."
December 20, 2000
* Cummins Inc., the world's largest maker of high-power diesel engines, said it expects to report a fourth-quarter loss because of declining North American demand for heavy-duty trucks. The loss will be 35 cents to 45 cents a share, said spokeswoman Dorothy Brown Smith, and doesn't include a pretax charge of about $160 million. The Columbus, Ind.-based company was expected to earn 66 cents a share, the average estimate of eight analysts polled by First Call/Thomson Financial.