父亲节

对冲基金大佬盯上埃培智集团,或将迫使其出售

2014-07-25 00:43:32
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由对冲基金大佬保罗·辛格尔领导的埃利奥特管理公司(Elliott Management),日前宣布已经持有全球第四大广告传播集团IPG 将近7%的股份(2830万股)。来自扭腰时报的报道称,辛格尔将很可能会逼迫IPG 出售给它的竞争对手。目前IPG的市值约为84亿美元。
【New York Times】 reported as below Paul Singer Takes Stake in Advertising Titan Interpublic and Pushes for Sale By MICHAEL J. DE LA MERCED JULY 24 Elliott Management’s regulatory filing: http://www.sec.gov/Archives/edgar/data/51644/000101359414000525/interpublic13d-072314.htm Though two of the world’s major advertising giants tried and failed to merge over the last year, a big activist hedge fund thinks that another big player, the Interpublic Group, should try to sell itself anyway. Elliott Management, the hedge fund run by the billionaire Paul E. Singer, disclosed on Thursday that it had acquired a 6.7 percent stake in Interpublic, the home of big ad agencies like McCann and FCB. While the $25 billion investment firm did not disclose any reason for its investment in a regulatory filing, a person briefed on the matter said Elliott planned to call on the company to sell itself to one of its competitors. Although Publicis and Omnicom called off their planned merger this spring, Interpublic could still prove to be an attractive takeover target, Elliott Management believes, according to the person briefed on the matter. Potential acquirers could include Publicis, which had been said to be interested in a deal two years ago, or other big advertising giants like WPP or Dentsu. Driving Elliott’s thinking is that with continued consolidation in other industries – in particular if 21st Century Fox combines with Time Warner – and the rise of online advertising platforms like Facebook and Google, ad agencies will need to merge to gain greater power over pricing. Michael I. Roth is the chairman and chief executive of Interpublic Group, is nearing retirement at 68. Though shares in Interpublic have risen 12 percent this year, the company, led by Michael I. Roth, has missed quarterly earnings targets several times in recent years. With Mr. Roth nearing retirement at 68, Elliott appears to be betting that the company could be ripe for a sale. Shares in Interpublic were up 1.7 percent in early trading on Thursday, at $20.19, valuing the company at $8.6 billion. Elliott reached out to Interpublic on Thursday, but no meeting has been set, according to the person briefed on the matter. Representatives for Elliott and Interpublic declined to comment or were not immediately available for comment.

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