Deals
Publicis Said to Weigh Bid for Control of Samsung Ad Agency
- French company mulls tender offer for 30% of Cheil Worldwide
- Deal would probably see Samsung Group keep significant holding
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Publicis Groupe SA is weighing a bid for a controlling stake in Samsung Group’s advertising agency Cheil Worldwide Inc., people with knowledge of the matter said.
The French company is considering a tender offer for about a 30 percent stake in Seoul-based Cheil Worldwide, which would make it the single largest shareholder, one of the people said. Any deal would probably see Samsung Group keep a significant holding in Cheil Worldwide, which has a market value of $1.9 billion, the person said, asking not to be identified as the information is private.