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PUBLICIS SHAREHOLDERS GIVE THUMBS-UP TO SAATCHI BUY

News, 30 August 2000


Shareholders in French global agency network Publicis yesterday voted unanimously in favour of the acquisition of Saatchi & Saatchi in an all share deal with an estimated value of $2 billion.

Two weeks ago Saatchi shareholders also overwhelmingly approved the friendly takeover, which will create the world’s fifth largest advertising agency operation.

The Publicis meeting also ratified a name change from Publicis to Publicis Groupe and the appointment of Saatchi chair Robert Seelert to its supervisory board.

News source: Advertising Age - Daily Deadline