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NEW YORK Grey chairman and CEO Ed Meyer confirmed that he sold “a significant portion” of his WPP Group stock today, just two days after his agency’s acquisition by London-based WPP.
Meyer, 78, declined to discuss details, but sources placed the stock sale in the $200 million range.
WPP emerged as the winning bidder for Grey Global Group in September with a bid of $1.3 billion for the communications company. With stock fluctuations since then, however, the closing sale price on March 7 was closer to $1.7
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