loading...
Canwest News Service
Toronto-based advertising agency Huxley Quayle von Bismark has released a new series of ads trumpeting the benefits of smaller agencies, with a nod to the current takeover battle at Cossette Inc. One web-based ad, which declares that agencies should be creative companies and not finance companies, sends consumers to Cossette's web site if the reader clicks "Don't agree." The Quebec ad agency advised shareholders this week to reject a sweetened bid from rival Cosmos Capital Inc., saying it was not in Cossette's best interests. The latest Cosmos bid of $7.87 per Cossette share matched a friendly offer from U.S. private-equity investor Mill Road Capital LP valuing Cossette at $131.5-million. But Cossette told shareholders that the Cosmos offer is subject to a due-diligence condition that Cossette says cannot be satisfied.
