Publicis Groupe Announces The Completion Of A Share Buyback From Dentsu Of Nearly 3.9 Million Shares
PARIS, February 15, 2013 /PRNewswire/ --
Following the proposal made by Dentsu, on February 15, 2013 prior to the opening of the Paris Stock Market, Publicis Groupe [EURONEXT Paris : FR0000130577] completed a buy-back of a block of approximately 3.9 million shares for a total price of 181.4 million euros, i.e., 46.82 euros per share.
The Supervisory Board studied the Management Board's proposal to proceed with the buyback during its meeting on February 13, 2013. The Supervisory Board concluded that the purchase of approximately 3.9 million shares, pursuant to the buyback program approved by the General Meeting of Shareholders of May 29, 2012, would be positive for the Group and for its shareholders as a whole. The Supervisory Board accordingly unanimously approved the proposed transaction.
The repurchase was made at a 4.7% discount to the February 14, 2013 closing price of Publicis Groupe's shares at 49.11 euros. It will have a positive impact of approximately 1.5% on diluted earnings per share in 2013 and of 1.7% on a full-year basis.The 3,875,139 shares acquired in the transaction will be held as treasury stock and will be used for attendance and performance share awards or stock options schemes. The purchase was funded entirely from Publicis Groupe's available funds. Following the termination in February 2012 of the shareholder agreement between Dentsu and Mrs. Badinter, and the concomitant sale of the bulk of Dentsu's stake in Publicis Groupe (18 million shares), the transaction comprises of all of the remaining shares held by Dentsu. The two groups will continue to consider all opportunities for collaboration and to maintain cooperative relations, and the two joint ventures between Dentsu and Publicis Groupe (Beacon Communications and Dentsu Razorfish) are expected to continue without change.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV