1019 GMT - A report that Omnicom Group is nearing a deal to buy Interpublic Group is the latest example of bid talk in the advertising sector and would suggest the industry exhausted smaller targets, AJ Bell's Dan Coatsworth says in a market comment. Ad firms' growth strategy has hinged on acquisitions to gain scale and broaden the client base, he says. "To now see mergers among the top players would suggest the industry has run out of smaller things to buy--effectively hitting a ceiling and not knowing where to go next," Coatsworth says. The Wall Street Journal reported Omnicom is in advanced talks to acquire Interpublic in a deal that would reshape the industry, sending Interpublic shares up 14% and Omnicom down 2.5% in premarket trading. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
December 09, 2024 05:19 ET (10:19 GMT)
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