Publicis to buy U.S.-based Sapient for $3.7 billion

Publicis (PUBP.PA), the world's third-largest advertising holding company, has agreed to buy digital ad specialist Sapient for $3.7 billion in cash as it seeks to accelerate growth after a botched merger earlier this year. Publicis said on Monday that the deal values U.S.-based Sapient at $25.00 per share, which represented a 44 percent premium to Friday's close. For Publicis Chief Executive Maurice Levy, the deal is part of a push to revitalize the group at a time when its quarterly top-line growth has lagged rivals WPP (WPP.L) and Interpublic (IPG.N) among others. Levy has blamed the poor performance on the hangover from Publicis' failed "merger of equals" with world number 2 ad agency Omnicom (OMC.N), which was announced in August 2013 and abandoned in May over control and cultural clashes.

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