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PITTSBURGH – Money – not power-sharing or real estate – was the primary reason for the collapse of the merger talks last week between Ketchum Communications and Ayer.
Industry sources said last week that the talks were scuttled after Ayer received a last-minute cash infusion of between $10 million and $20 million from an investment bank.
‘Ayer found some angels somewhere,’ said one source familiar with the deal.
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