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Purchase of $85 Mil., Family-Operated Shop Seen for January
CHICAGO–Publicis S.A. remains in discussions to buy Frankel & Co., after apparently outbidding at least one other holding company for the marketing-services firm, sources said.
No deal is expected before the end of the year, although sources close to the negotiations indicated that a sale could be finalized as soon as mid-January.
Frankel in September enlisted Goldman, Sachs & Co. to set up a sale or merger. Several holding companies, including Omnicom Group and WPP Group, listened to presentations from the agency, said sources.
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