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BUSINESS
May 9, 2000 | Associated Press
Britain's WPP Group reached an agreement in principle to buy Young & Rubicam Inc. in a stock deal worth about $4.7 billion that would make WPP the world's largest ad and marketing company, sources familiar with the talks said. The deal is subject to approval by the boards of both companies and their shareholders and could still fall apart, said the sources, who spoke on condition they not be named.
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BUSINESS
May 18, 2007 | Alana Semuels, Times Staff Writer
In a nod to the growing importance of Internet advertising, WPP Group, the world's second-biggest advertising company, said Thursday that it was buying online ad agency 24/7 Real Media Inc. The $649-million deal underscores how major agencies are scrambling to take the lead in offering online services. Advertisers are expected to raise their online ad spending by 18% this year, faster than any other ad medium, according to market research firm Outsell Inc.
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BUSINESS
May 9, 2000 | Associated Press
Britain's WPP Group reached an agreement in principle to buy Young & Rubicam Inc. in a stock deal worth about $4.7 billion that would make WPP the world's largest ad and marketing company, sources familiar with the talks said. The deal is subject to approval by the boards of both companies and their shareholders and could still fall apart, said the sources, who spoke on condition they not be named.
BUSINESS
September 21, 1999 | (Bloomberg News)
WPP Group, the world's third-largest advertising and communications holding company, said it agreed to buy Los Angeles-based ad research company Diagnostic Research International Inc. to strengthen its market research operations. DRI would be folded into the Millward Brown research group, a unit of WPP's Kantar Group, becoming the biggest ad-testing company in the U.S. Terms of the transaction weren't disclosed. In 1998, DRI had sales of $35.5 million and net assets of $3 million.
BUSINESS
June 6, 1989
Kidder, Peabody & Co. has named B. J. Megargel, 35, managing director and head of mergers and acquisitions. Megargel has been managing director and head of international M&A for Shearson Lehman Hutton. At Shearson, Megargel worked on a broad array of transactions, including the sale of Ogilvy Group to WPP Group, Black & Decker's acquisition of Emhart, RJR Nabisco's proposed management-led buyout, Wagner & Brown's attempted acquisition of Gencorp and Maytag's acquisition of Magic Chef.
BUSINESS
May 8, 1989
Report Says WPP May Raise Ogilvy Bid: WPP Group, the British advertising agency, has told Ogilvy Group Inc. that it is willing to raise its $725-million offer for the U.S. ad agency, Wall Street sources said. Reuters reported that the sources said WPP has informed Ogilvy, parent of Ogilvy & Mather, that it might raise its offer to as high as $50 a share, or more than $800 million, from $45 a share. Officials for WPP in London and for Ogilvy in New York could not be reached immediately for comment.
BUSINESS
February 24, 1999 | Reuters
Kimberly-Clark Corp. said that the WPP Group of global communications companies will handle all worldwide advertising for its consumer products. J. Walter Thompson, a WPP agency, has been awarded global creative advertising responsibility for the company's tissue brands, including Kleenex, Scott, Scottex and Andrex, it said. The accounts were previously shared by J. Walter Thompson, WPP's Ogilvy & Mather and Foote, Cone & Belding, which is a unit of Chicago-based True North Communications Inc.
BUSINESS
June 16, 1987 | DENISE GELLENE, Times Staff Writer
The British marketing services firm that launched a hostile bid for the parent of J. Walter Thompson advertising agency said Monday that it would raise its bid by more than $50 million if a merger agreement with JWT Group is reached by Wednesday. The London-based WPP Group said it was prepared to raise its $45-a-share bid to $50.50 a share to "bring about an immediate acceptance of our proposal and to put this extended period of instability behind JWT as quickly as possible."
BUSINESS
September 21, 1999 | (Bloomberg News)
WPP Group, the world's third-largest advertising and communications holding company, said it agreed to buy Los Angeles-based ad research company Diagnostic Research International Inc. to strengthen its market research operations. DRI would be folded into the Millward Brown research group, a unit of WPP's Kantar Group, becoming the biggest ad-testing company in the U.S. Terms of the transaction weren't disclosed. In 1998, DRI had sales of $35.5 million and net assets of $3 million.
BUSINESS
February 24, 1999 | Reuters
Kimberly-Clark Corp. said that the WPP Group of global communications companies will handle all worldwide advertising for its consumer products. J. Walter Thompson, a WPP agency, has been awarded global creative advertising responsibility for the company's tissue brands, including Kleenex, Scott, Scottex and Andrex, it said. The accounts were previously shared by J. Walter Thompson, WPP's Ogilvy & Mather and Foote, Cone & Belding, which is a unit of Chicago-based True North Communications Inc.
BUSINESS
August 6, 1992 | From Reuters
WPP Group, one of the world's biggest advertising companies, won a new lease on life Wednesday when stockholders voted for a $1-billion debt restructuring. The fate of the British-based company, which owns such agencies as Ogilvy & Mather and J. Walter Thompson, had hung in the balance until the last minute, with the risk that one major stockholder could ruin the deal.
BUSINESS
November 20, 1990 | From Reuters
WPP Group, which built the world's largest advertising agency through heavy borrowing, was on the critical list today, the latest victim of an economic downturn in Britain and the United States. Shares in WPP, owner of Ogilvy & Mather and J. Walter Thompson, have lost half their value since the company said Monday that profits would be lower than forecast. The shares plunged by $3.17 to $2.84 today.
BUSINESS
June 6, 1989
Kidder, Peabody & Co. has named B. J. Megargel, 35, managing director and head of mergers and acquisitions. Megargel has been managing director and head of international M&A for Shearson Lehman Hutton. At Shearson, Megargel worked on a broad array of transactions, including the sale of Ogilvy Group to WPP Group, Black & Decker's acquisition of Emhart, RJR Nabisco's proposed management-led buyout, Wagner & Brown's attempted acquisition of Gencorp and Maytag's acquisition of Magic Chef.
BUSINESS
May 17, 1989 | MARTHA GROVES and BRUCE HOROVITZ, Times Staff Writers
Just 10 hours after signing an $864-million deal to link their two big advertising firms, Martin Sorrell and Kenneth Roman appeared almost chummy as they greeted the press Tuesday with details of the merger between WPP Group and Ogilvy Group. While making it clear that his first choice would have been to stay independent, Ogilvy Group Chairman Roman said at a news conference preceding the Ogilvy annual meeting that WPP Group's $54-a-share cash bid "was far and away the best alternative" for Ogilvy shareholders, employees and clients.
BUSINESS
November 20, 1990 | From Reuters
WPP Group, which built the world's largest advertising agency through heavy borrowing, was on the critical list today, the latest victim of an economic downturn in Britain and the United States. Shares in WPP, owner of Ogilvy & Mather and J. Walter Thompson, have lost half their value since the company said Monday that profits would be lower than forecast. The shares plunged by $3.17 to $2.84 today.
BUSINESS
May 17, 1989 | MARTHA GROVES and BRUCE HOROVITZ, Times Staff Writers
Just 10 hours after signing an $864-million deal to link their two big advertising firms, Martin Sorrell and Kenneth Roman appeared almost chummy as they greeted the press Tuesday with details of the merger between WPP Group and Ogilvy Group. While making it clear that his first choice would have been to stay independent, Ogilvy Group Chairman Roman said at a news conference preceding the Ogilvy annual meeting that WPP Group's $54-a-share cash bid "was far and away the best alternative" for Ogilvy shareholders, employees and clients.
BUSINESS
May 13, 1989 | BRUCE HOROVITZ, Times Staff Writer
After shunning its eager British suitor for more than a week, the Ogilvy Group confirmed Friday that it had finally begun talks with WPP Group. The breakthrough came after the marketing giant said it was prepared to increase its $800-million bid for the parent of advertising agency Ogilvy & Mather. Ogilvy executives--who have steadfastly insisted that they want the agency to remain independent--still say the talks may not produce an agreement. But industry analysts now speculate that Ogilvy's management may reluctantly approve an offer of $860 million to $900 million for the agency--perhaps as early as Monday.
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