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Golden Parachutes and Management Control Remain Issues
NEW YORK–Management control and the cost of severance packages for senior Young & Rubicam executives remain sticking points in WPP Group’s bid to acquire Young & Rubicam Inc., sources said.
Differences over the issues recently led to a breakdown in talks. But sources said that the companies remain in touch, with the possibility of still hammering out a deal.
Sources said Y&R Inc. CEO Tom Bell wants assurances from WPP boss Martin Sorrell that Y&R will have a measure of autonomy and will maintain its structure as an integrated agency, should it become part of WPP, sources said.
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