Publicis, although not confirmed, is widely believed to be the mystery suitor behind the £1.56bn bid confirmed by Aegis this week, despite speculation that an approach from Havas chairman Vincent Bollore, who bought a 6% stake in the firm in August, was imminent.
According to the Financial Times this morning, Publicis has been interested in acquiring Aegis for "several years" and chief executive Maurice Levy made an approach after Bollore bought his stake.
Further speculation surrounding Aegis has prompted a steep rise in the share price, surging by more than 20% and hitting as high as 145p. This morning it has dropped back slightly to 143.25p.
Speculation that Publicis, and not Havas, was behind the takeover bid, which values the shares at 140p each, first emerged yesterday in French newspaper Les Echos.
Aegis is still not revealing the identity of the bidder, but has admitted that an approach had been received. Les Echos claims talks between Publicis and Aegis took place yesterday.
A merger between Publicis and Aegis would combine ZenithOptimedia and Starcom MediaVest with Carat and Vizeum to create a media powerhouse to challenge WPP Group, which has three media networks in MindShare, Mediaedge:cia and Mediacom, and Omnicom, with OMD and PHD.
Earlier this month, Aegis announced a pre-tax profit rise to £36.9m from £35.4m last year.
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