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NEW YORK Interpublic Group intends to divest itself of its 42.4 percent stake in Modem Media, according to an S-3 registration document filed with the Securities and Exchange Commission.
The New York-based holding company, Modem Media’s largest investor, plans to sell 7 million of its 11.1 million shares in the company in a public offering at the proposed price of $6.62 per share, or about $46 million. After the completion of the offering, IPG will hold a 15.7
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