Interested parties for Springer & Jacoby receive more time

The search for a new owner for
the German advertising agency Springer & Jacoby (see Newsmail from 12.
December) is likely to take a while yet. According to Advertising Age, the
previous deadline (December 15) extended indefinitely. "It
there is no deadline," the US trade journal quotes the
S&J Chairman Oliver Schwall. Apparently, majority shareholders
Interpublic (51 %) and its founders Reinhard Springer and Konstantin
Jacoby (25 %) three companies to make an offer for the Interpublic stake
invited. Advertising Age only mentions the competitor by name
Scholz & Friends, whose interest has already become known. The
According to the report, the purpose of the deadline extension is to
Springer & Jacoby's lenders and to inform their
to obtain consent. DaimlerChrysler is particularly important in this respect.
Springer & Jacoby has been the regular agency of
Mercedes-Benz; according to Ad Age, the budget contributes around 30 % to gross sales.
with. Should this customer drop out, the takeover of the agency
lose much of their appeal. The industry has been buzzing for
some time ago that DaimlerChrysler was planning to reduce the Mercedes budget to
pitch could be put out to tender.