Advertising Industry
Industry: Email Alert RSS FeedInterpublic said to seek buyer for NFO; Market-research company was acquired in 2000 for $500 million.(News)(Interpublic Group of Cos. to sell NFO WorldGroup)
Advertising Age, December, 2002 by JOHNSON, BRADLEY; SANDERS, LISA
Byline: BRADLEY JOHNSON and LISA SANDERS
Interpublic Group of Cos. has hired investment bank Goldman Sachs to sell NFO WorldGroup less than three years after it bought the giant market-research venture for nearly $500 million, according to an executive familiar with the situation.
The sale, unwinding one of its biggest acquisitions to date, would come as Interpublic works to cut debt and bring order to its unwieldy group of companies.
NFO referred calls to Interpublic. John J. Dooner Jr., Interpublic chairman-CEO, declined to comment, as did Goldman Sachs, which advised Interpublic on the 2001 acquisition of True North Communications.
Interpublic has said in Securities and Exchange Commission filings that it may need to sell...
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