Omnicom has not signed a confidentiality agreement, which would have been a strong indication that it planned to make a bid for Grey Global, the owner of the Grey Worldwide advertising network, media buying firm MediaCom, PR firm GCI Group and public affairs agency APCO Worldwide.
Last Friday, Grey appointed Goldman Sachs and JP Morgan. A week later, Publicis Groupe looks like the only buyer, with the holding companies' links to Procter & Gamble being seen by many as making a deal between the two more likely than one with another of the global holdings firms, such as WPP Group.
There has been no official comment from Grey about talk of a sale. Ed Meyer, the 77-year-old chairman and chief executive of Grey, told staff earlier this week that he is aware of the speculation about a sale, but has been advised by lawyers not to comment.
Meyer is this week travelling in Europe. However, it is not know if that trip includes Paris where he could hold talks with Publicis chairman and CEO Maurice Levy, with whom the septuagenarian Grey chief is on good terms.
The two are reported to have dinner together when the American is in Paris.
If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the .