Publicis Groupe SA to Acquire Bcom3 Group

Western Multiplex rejects the unsolicited $170 million offer from DMC Stratex Networks, and more merger news

France's Publicis Groupe SA says it will acquire U.S. advertising company Bcom3 Group Inc. in a deal valued at $3 billion in stock. Under the deal, Japanese advertising company Dentsu Inc. will become a strategic shareholder of the combined group, which will become the fourth largest adverstising company in the world. Dentsu holds nearly 22% of Bcom3 and will have a 15% stake in the larger Publicis. (3/7)

A group of investors including Hicks, Muse, Tate & Furst Inc. is said to be in talks to buy at least part of ConAgra Foods Inc.'s (CAG ) meatpacking business, according to a report in the Wall Street Journal. (3/7)

Hycor Biomedical (HYBD ) says it is no longer in talks to be acquired. (3/6)

Wireless equipment maker Western Multiplex (WMUX ) rejects the unsolicited $170 million offer from DMC Stratex Networks (STXN ), and reaffirms its commitment to the pending merger with Proxim Inc. (PROX ). (3/6)

IOS Brands Corp., parent company of Florists' Transworld Delivery Inc. (FTD), has agreed to acquire the 15% of FDT.com Inc. (EFTD ) it doesn't already own in a stock swap. (3/4)

General Growth Properties Inc. (GGP ) agrees to acquire retail real-estate investment trust JP Realty Inc. (JPR ) for $440 million, or $26.10 per share in cash, plus the assumption of $576 million of debt and preferred securities. (3/4)

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