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True North Shareholders Give Interpublic Deal Green Light

News, 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