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The lull following Elliott Management becoming Interpublic Group’s third-largest shareholder has been filled in recent weeks with swirling rumors about who might buy the No. 4 holding company.
The banter persists even though Elliott, an activist hedge fund run by Paul Singer, has yet to even meet with IPG CEO Michael Roth, three weeks after amassing 28.3 million shares of IPG’s stock, according to sources.
What’s fueling chatter about potential buyers is that Wall Street sees industry consolidation as inevitable, despite the May collapse of the megamerger of Publicis and Omnicom.