Big brands put on alert as bids for Cordiant emerge

Mark Kleinman,

April 30, 2003

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Big brands put on alert as bids for Cordiant emerge

LONDON - Speculation is mounting over the future tenure of UK advertising accounts for brands including B&Q, Seat and BSkyB, as beleaguered agency network Cordiant Communications confirmed it has received takeover approaches.

Publicis Groupe, owner of the Leo Burnett, Publicis and Saatchi & Saatchi networks, is tipped as the frontrunner to buy all or part of Cordiant, which owns the Bates, Fitch and 141 marketing services businesses. WPP, owner of J Walter Thompson, Red Cell and Ogilvy & Mather, may also be interested.

Cordiant had good news on Tuesday when Bates UK won the £1.5m ad account for morning-after pill brand Levonelle. Schering Healthcare, Levonelle's owner, is keen to promote the product as the back-up contraception option for women of all ages.

However, even this win will be scant consolation for Cordiant, which saw its share price plunge after one of its biggest international clients, Allied Domecq, decided to take its account elsewhere.

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