Britain's WPP rejects media report of bid for U.S. group IPG
LONDON Nov 15 (Reuters) - British advertising group WPP has dismissed a media report saying that the company is considering a takeover bid for rival Interpublic.
The Daily Mail reported on Friday that rumours were rife that WPP, the world's largest advertising group, is lining up a $25-a-share cash offer for the U.S. group. Interpublic's shares closed on Thursday at a little more than $17.
"We strongly refute this report," a WPP spokesman said on Friday.
Analysts have questioned whether the British group would look to make further acquisitions after its two biggest challengers, Omnicom of the U.S. and France's Publicis , announced merger plans in July.
The combined group would overtake WPP as the world's largest advertising company.