Y&R Moving to Purchase UniWorld

Young & Rubicam Inc. is close to making an all-cash offer for UniWorld Group that would put the African-American shop into Y&R’s fold alongside Hispanic agency Bravo Group and Asian-American shop Kang & Lee, sources said.
Under one proposal being mulled, UniWorld would retain its name and management–as have Y&R-affiliated ethnic shops–and operate as a separate unit, sources said.
A deal would give the company more firepower to add business from existing clients.
UniWorld here claims $160 million in billings from Pepsi, Burger King and others.