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Ad industry insiders say the Omnicom takeover of Interpublic Group could kick off more M&A. The US ad industry has barely grown over the past few years. AdvertisementSome industry insiders think the Omnicom-IPG tie-up is just the start of a massive reordering of the $70 billion ad agency industry and that it's only a matter of time before other holding companies are forced to acquire or be acquired as they look to bulk up. Private equity has been circlingThe big holding companies could also be a target for private-equity giants. Industry insiders have speculated for months that WPP, which once ranked as No.
Persons: William Ritchie, Ritchie, Andreas Roell, Mark Read, Arthur, Sadoun, Tom Triscari, WPP's, Publicis, Omnicom, Havas, Mark Penn's Stagwell, Bill Koenigsberg, Martin Sorrell, David Morgan, Kepler, Blackstone, who's, Tata, Jay Friedman, They're Organizations: Interpublic, Insiders, WPP, Private, Accenture, Google, WY Partners, FGS, Evros, Publicis Groupe, Lemonade Projects, Vivendi, Horizon Media, Capital, Horizon, Temasek, Apollo, KKR, Industry, IBM, Tata Consultancy Services, Droga5, Goodway Locations: US, London
KKR is in talks to acquire adtech firm Integral Ad Science, sources told Business Insider. AdvertisementPrivate equity firm KKR is in talks to acquire the publicly listed adtech company Integral Ad Science, three people familiar with the process said. In its second quarter, the company grew revenue by 14% to $129 million and raised its full-year guidance. A take-private deal by a private equity firm like KKR could help IAS grow further without the quarterly Wall Street scrutiny. In September, Axel Springer announced it would separate its media properties into a privately-owned company, while KKR retained the classifieds side of the business.)
Persons: Jefferies, , acquirers, Axel Springer, Ted Oberwager Organizations: KKR, Ad, Business, Service, Bloomberg, IAS, Google, Vista Equity Partners, Vista, FGS Global, Publishers
Taylor Hill | Getty ImagesTop proxy advisor Institutional Shareholder Services on Friday recommended Tesla shareholders vote against the re-approval of CEO Elon Musk's $56 billion pay package and withhold their support from the re-election of News Corp . Tesla's shareholder meeting is on June 13. Tesla's board is seeking shareholder approval to reinstate Musk's pay after a Delaware court voided the package earlier this year. The proxy advisor recommended support for some shareholder proposals that Tesla management opposes, including one that would declassify Tesla's board. Pay package pushTesla has been courting shareholder support in both time-tested and novel ways.
Persons: Elon Musk, Elon Musk's, James Murdoch, Glass Lewis, Tesla, Innisfree, Robyn Denholm, Leo KoGuan, KoGuan, Go Nakamura Organizations: Academy Museum of Motion Pictures, Getty, Services, News Corp, CNBC, ISS, FGS Global Locations: Los Angeles , California, Taylor, Delaware, Texas, Austin, Austin , Texas, U.S
NEW YORK, April 11 (Reuters) - Private equity firm KKR & Co Inc (KKR.N) has agreed to buy a significant stake in FGS Global in a deal that values the financial communications group at about $1.4 billion. As part of the deal, KKR will buy up a 30% stake from senior employees at FGS Global and its largest investors, including London-based advertising giant WPP Plc (WPP.L). WPP, which was founded by Martin Sorrell, will retain a majority stake in FGS Global. Existing investor Golden Gate Capital is selling its entire stake to KKR, which is investing in FGS Global through its $8-billion European Fund VI. FGS Global currently employs more than 1,200 people across 27 offices globally.
KKR set to buy stake in communications group FGS Global - FT
  + stars: | 2023-04-06 | by ( ) www.reuters.com   time to read: +1 min
April 6 (Reuters) - Private-equity group KKR (KKR.N) is nearing a deal to buy a large stake in FGS Global that will value the financial communications company at about $1.4 billion, the Financial Times reported on Thursday. The deal could be announced as soon as next week, the FT report said, marking the latest significant investment by buyout groups into the niche sector of communications. FGS Global is backed by British advertising group WPP (WPP.L). KKR is expected to acquire more than 30% of FGS from a combination of senior employees at FGS and WPP, the report said, adding that the British group is expected to retain a majority in the business. FGS and WPP did not immediately respond to a Reuters request for comment, while KKR declined to comment.
REUTERS/Agustin Marcarian/File PhotoBUENOS AIRES, March 23 (Reuters) - Argentina ordered public sector bodies on Thursday to sell or exchange their holdings of 11 sovereign dollar bonds in a bid to reorganize its debt as inflation soared above 100% and its foreign reserves dropped. A presidential decree in Argentina's official gazette said public sector bodies would have to sell or auction five local law dollar bonds maturing between 2029 and 2041, and to swap six foreign law dollar bonds for peso debt. The order makes official plans announced earlier in the week, which had dragged down the value of Argentina's sovereign bonds. These are already in distressed debt territory after a ninth sovereign default and a major debt restructuring in 2020. Public sector bodies will have to sell the local law dollar bonds and exchange foreign law dollar bonds maturing between 2029 and 2046 for debt payable in pesos issued by the Treasury.
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