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True North Merger With Bozell Consummated
CHICAGO–True North Communications shareholders approved its merger with Bozell, Jacobs, Kenyon & Eckhardt at a special meeting Dec. 30. Publicis, unsuccessful last week in attempts to overturn two court injunctions blocking its tender offer for TN stock (intended to derail the merger), voted its 18.5 percent stake against the BJK&E union, but TN said 95 percent of other shares voted were in support of the deal. The Bozell Media buying unit will be merged with TN Media, but media planning will continue to be controlled separately by Foote, Cone & Belding, Bozell, Temerlin McClain and the holding company’s other agency brands.
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