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MDC Communications in Toronto is finalizing a deal to purchase Minneapolis-based Colle & McVoy, sources said. The acquisition still requires approval of MDC’s board, which could come this week, sources said.
Officials at Colle & McVoy would neither confirm nor deny negotiations with MDC. The agency said it is frequently approached about buyouts. MDC officials did not return calls by press time.
With billings of $127 million in 1997, Colle & McVoy is the fifth-largest agency in Minneapolis and the city’s second-largest independent agency behind Fallon McElligott.
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