posted at 23:50
Author Name: Lara O'Reilly
SORRELL: Publicis Acquisition Of Sapient Looks Like The Behavior Of A Jilted Lover
Sir Martin Sorrell, the chief executive of the world's biggest advertising agency holding group WPP, has reacted quickly to the news this Monday morning that rival Publicis Groupe is acquiring digital advertising company Sapient for $3.7 billion. He told Business Insider: "It looks like the behavior of a jilted lover. Christmas came early for Sapient shareholders." Sorrell is presumably referring to Publicis failed $35 billion merger with Omnicom, which was due to create the world's largest advertising group, overtaking WPP, but which collapsed in May this year. Sorrell is currently traveling and could not be reached for further clarification, but this story will be updated when he sends an additional response. Last month on Publicis Groupe's Q3 earnings call, the company's chief executive Maurice Levy admitted his company's poor results in the quarter were his fault for being distracted by the doomed Omnicom merger. This story is developing, please click here to refresh the page.

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