IPG to Issue New Shares to Cover Debt, Finances

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NEW YORK Interpublic Group said on Tuesday that it plans to issue an additional 28.9 million shares of stock in two offerings to raise an estimated $975 million. The money will be used to pay off debt and strengthen the company’s balance sheet.

About three-quarters of the shares (22.4 million) will take the form of common stock, while the remaining 6.5

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