Publicis’ biggest buy distracts from deeper issues dasha_reuters
French advertising group Publicis said on April 14 it would buy Alliance Data Systems' Epsilon marketing unit for $4.4 billion, expanding its digital business and North American footprint.
Publicis will pay $4.4 billion in cash, but said the net price was $3.95 billion after deducting a tax benefit from the deal.Publicis said the net purchase price implied a multiple of 8.2 times Epsilon’s adjusted EBITDA for 2018 of $485 million.
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