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Criteo Surges After Report of Advanced Takeover Talks

NEW YORK (TheStreet) -- Shares of digital display ad company Criteo (CRTO) are surging after French newspaper Les Echos reported that Publicis (PUBGY) is in talks about buying the company. Publicis is among the world's largest ad agencies.

WHAT'S NEW: Talks about a takeover of Criteo by Publicis were launched three months ago and may conclude in coming days, Les Echos reported. Publicis could decide to bid for Criteo, the newspaper stated, adding that talks between the companies about a takeover had occurred before July 2013 but then paused before restarting more recently.

WHAT'S NOTABLE: A planned $35B merger between Publicis and another large international ad agency, Omnicom (OMC) , was scrapped last May because the companies had different ideas about how to manage the combined entity.

PRICE ACTION: In early trading in New York, Criteo jumped 17.9% to $36.12 and Publicis slid 1.8% to $18.38. Another digital ad technology companies also advanced, with TubeMogul (TUBE) gaining 3.5% to $13.32 and Tremor Video (TRMR) rising 1.4% to $3.01.

Reporting by Larry Ramer.

The Fly provides comprehensive coverage of stock news and Street research and delivers it in real-time. The Fly breaks market-moving news and explains sudden stock movements in a rapid-fire, short-form story format. Follow @theflynews on Twitter. For a free trial, click here.

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