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On paper, it makes sense: One of the industry's most powerful agency networks, known for its own voracious appetite for acquisitions, has been caught in a downward trajectory severe enough that it may now find itself prey.
"Twenty months on from the collapsed merger talks with Omnicom, we believe an acquisition of Publicis is now a feasible prospect," Jérôme Bodin and Pavel Govciyan, research analysts at Natixis, Paris, wrote in January. "Publicis is now an extremely attractive target, from both a financial and strategic standpoint.