Ipsos presses ahead with Synovate offer
IPSOS has decided to go ahead with its offer for Synovate, the market research arm of Aegis, in a deal that could fetch the communications agency £500m.
Top executives, including co-president Didier Truchot, decided at a crunch meting in Paris yesterday to proceed with a bid for the firm.
Aegis yesterday confirmed to the market it has received a preliminary sounding for Synovate but said there is no guarantee a bid will be forthcoming.
Shares in Aegis, which has contracts with firms including Disney Parks and Diageo, jumped seven per cent yesterday.
Synovate is managed as an almost entirely separate entity to Aegis Media, making it easy to hive off and sell.
It is understood any bid would be in the region of £500m, with analysts saying a potential rival bid could push the price even higher.
Billionaire shareholder Vincent Bolloré, who owns 26.5 per cent of Aegis in addition to 33 per cent of rival advertising group Havas, has mulled a takeover of Aegis in the past.
He could be tempted to launch a bit for a slimmed down Aegis should it decide to sell Synovate. Analysts have also linked Publicis to a possible bid for the firm.
Aegis sources yesterday reiterated the approach is at a “very, very” early stage and said a further announcement may not come for some time.