Could IPG Become Takeover Target?

An idea once unthinkable was bandied about the industry last week: Could IPG, originator of the model of ad-holding-company growth through acquisition, itself become a takeover target? With its shares off nearly 60 percent this year—dropping to a 52-week low of $9.85 after its last restatement in mid-October—there was reason to wonder about the possibility of suitors.

Venture capitalists, media companies and global wannabes like Dentsu were mentioned as potential acquirers. But with $2.9 billion in debt, IPG would not come so cheaply.