True North Shareholders Give Interpublic Deal Green Light

20 June 2001

The takeover of True North Communications by Interpublic Group has been given the green light by TN’s shareholders.

At a special meeting in Chicago, an overwhelming 97.3% of the 66% of TN shareholders who voted gave their support to the deal, worth around $1.72 billion based on Interpublic’s current stock price.

The takeover is slated for completion at the end of the month, subject to regulatory approval.

News source: New York Times