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True North acquisition talks heated up again late last week after the company resolved a Securities and Exchange Commission inquiry, with Interpublic Group emerg ing as the front-runner to buy the Chicago-based holding company.
“There is action, but there’s no resolution,” one executive said late Friday at press time. “Something could happen this weekend, but it’s still up in the air.”
On Friday, TN’s stock price closed up almost $2 while the rest of the market tanked, heightening speculation that one of the three bidders pursuing the Chi cago-based holding company was close to inking a deal.
Earlier, the WPP Group had been added to the list of potential buyers, which, in addition to IPG, include Havas, sources said.
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