International News.

Advertising Age, October, 2000

Havas wraps Snyder buy; puts shares on Nasdaq

[levallois, france] Havas Advertising completed its $2.2 billion acquisition of Snyder Communications, Bethesda, Md. Havas shareholders voted their final approval of the Snyder acquisition early last week, and Havas began trading American Depositary Shares, under the symbol HADV, on the Nasdaq exchange Sept. 27. The share price ended its first day at $17.13. Also last week, Havas said its net profits jumped 45% in the first half vs. a year ago, to $39.4 million, as gross income rose 38.8% to $646 million. Billings also were up 38.8%, topping $4.29 billion. The Snyder acquisition didn't figure in first-half results, but Havas expects the fusion with Snyder to result in cost-saving synergies of $35 million to $50...

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