A report from Reuters quotes a source close to the situation as saying that the German advertising firm, which was acquired in 2001 when Interpublic bought True North Communications, is not "seen as a strategic fit" for the group.
Those understood to be interested in buying the firm, whose clients include DaimlerChrysler, are rival German ad agency Scholz & Friends and the Omnicom Group.
In the UK, Springer & Jacoby was taken over by St Luke's founder Andy Law and became Boymeetsgirl. The agency went into administration earlier this year and was closed down. Creditors included Interpublic and Springer & Jacoby.
This latest development comes as Interpublic battles to overcome financial problems, as well as client defections.
Last month, it posted a third-quarter operating loss of $96.8m (拢54.7m) and in recent months has lost major clients including General Motors and L'Oreal.
In the UK, it has also seen its Lowe agency rocked by the loss of senior directors and its 拢45m Tesco account, which has been awarded to Sir Frank Lowe's new, as-yet-unnamed agency.
If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the .