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Agency 'does a BBH' and retains its independence, while securing estimated pounds 30m in upfront cash deal with Sorrell's WPP.
When Sir Martin Sorrell read in Campaign that the Havas chairman, Vincent Bollore, was waving his chequebook in front of Clemmow Hornby Inge, the WPP chief executive immediately picked up the phone to Johnny Hornby.
Two months later, the deal is done. Sorrell got his men and Havas was left empty-handed. Clemmow Hornby Inge & Partners, as it is to be known, is now 49.9 per cent owned by WPP. The remaining 50.1 per cent will be placed in an employee benefit trust, owned by the agency's partners.
The cash deal is rumoured to …