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Grey Global calls in investment bankers to draft dollars 1.3bn sale.(Grey Global Group Inc.)(Brief Article)
After years of resisting the trend towards consolidation, Grey Global has finally responded to market forces by putting itself up for sale.
Last week, Grey called in Goldman Sachs and JP Morgan Chase to explore a sale, likely to value Grey at around dollars 1.3 billion. The move could lead to another head-to-head battle between WPP and Publicis Groupe, after WPP beat the French holding company to deals for both Young & Rubicam and Cordiant.
However, US analysts have also suggested that private ...
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