True North Wins a Battle, But Not the War, vs. Publicis

CHICAGO–True North Communications has won a respite from Publicis’ efforts to block its proposed acquisition of Bozell, Jacobs, Kenyon & Eckhardt, but is still trying to persuade shareholders and analysts that the deal is a wise course to take.
U.S. District Court Judge Joan B. Gottschall issued a preliminary injunction Dec. 10, preventing Publicis’ attempt to block the deal at a TN shareholders’ meeting on Dec. 30. Publicis was hoping to acquire a majority of TN’s stock to derail the purchase.
Publicis chairman Maurice Lƒvy may still have his way, even if he does not get the injunction overturned, as he will seek to do in court this week.