Cordiant-Havas Merger: Did Secrecy Clause Gag Comment?

11 June 2002

The $1 billion (€1.06bn; £0.68bn) merger negotiations repudiated last week by both parties, Cordiant Communications and Havas [WAMN: 04-Jun-02], may still be alive and kicking, according to a weekend story in UK national newspaper The Observer.

According to the article, merger talks had been initiated and were still in progress when details were leaked to the press. But the parties had previously agreed that in this circumstance they would halt the negotiations and deny they had taken place.

Sources say the nuptials will recommence before the end of the summer.

Data sourced from multiple publications; additional content by WARC staff