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Ayer and Hal Riney & Partners are into deep discussions regarding a marriage between the two privately-held agencies. Such a move would create a new entity with billings of $1.8 billion and solve a number of issues ranging from succession at Riney to expansion for Ayer.
According to a source, they have reached the due diligence stage, although a number of issues could still unravel the negotiations.
“It’s serious but it’s not done yet,” said one source.
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