Havas Eyes WPP as Vultures Circle—But Is Anyone Actually Dealing?
Share buyback by CEO and chairman suggests no formal talks underway, despite speculation linking French rival and private equity firms to troubled UK holding company
The advertising industry’s consolidation wave has thrust WPP back into M&A speculation, with France’s Havas reportedly exploring options for the struggling UK holding company. But scratch beneath the surface, and the story looks more like opportunistic tyre-kicking than serious dealmaking.
According to The Times of London, Havas has been examining WPP, with potential scenarios ranging from acquiring the WPP Media division to building a significant stake and seeking board representation. Private equity firms Apollo and KKR have also been mentioned as potential suitors.
The problem? Nobody seems to be actually buying anything.
Apollo, which reportedly looked at WPP last year, told PRWeek bluntly: “We are not in discussion or considering a bid for WPP.” KKR—which acquired corporate comms giant FGS Global from WPP last year—declined to comment. Havas offered the standard “we do not comment on market rumours.”
The share buyback tells the real story
Perhaps most tellingly, WPP CEO Cindy Rose and…
