Ipsos confirms Synovate interest

Exclusive by Steve Dinneen

IPSOS has confirmed to City A.M. it is officially in talks to buy the £500m rated Synovate division of Aegis.

Top executives, including co-President Didier Truchot, decided at a crunch meting in Paris yesterday to proceed with negotiations over the market research unit.

Aegis yesterday confirmed to the market it has received a preliminary approach for Synovate, which is being run as an almost entirely separate entity to the other half of the Aegis business, but stressed there is no guarantee a bid will be forthcoming.

Shares in Aegis jumped seven per cent yesterday.

A sources close to the matter said advisers for the two sides – UBS for Ipsos and Greenhill for Aegis – have not officially discussed the deal.

Ipsos, Aegis and their respective advisers declined to comment yesterday.

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.

WPP, which was interested in taking control of Synovate in 2005, has also been linked with the firm, as has Publicis.

Billionaire shareholder Vincent Bolloré, who owns 26.5 per cent of Aegis in addition to 33 per cent of advertising group Havas, has mulled a takeover of the media half of the business in the past and could now be tempted into a bid.

It is understood UK chief executive Ben Page has not been involved in the talks so far.

Aegis sources reiterated the approach is “very, very” early stage and said a further announcement may not come for some time.