Activist hedge fund Elliott Management said in an SEC filing it has built up a 6.7% stake in Interpublic in a bid to "engage in a constructive dialog" with IPG's board "regarding steps to maximize shareholder value."
The fund of financier Paul Singer said it is buying the stock on the "belief that such securities are undervalued and represent an attractive investment opportunity."
The No. 4 marketing conglomerate this week reported strong second quarter earnings, including a 10.9% jump in its PR operations to $355.4M. It has been the subject of takeover speculation in the wake of Omnicom and Publicis' attempted $35B tie-up.
The Financial Times reported that Elliott wants Interpublic to explore a sale of the entire business to one of its rivals, including Publicis, Omnicom, WPP, Dentsu or Havas.
IPG's PR firms include Weber Shandwick and Golin, among others.
IPG shares were up 2% in afternoon trading to $20.15.
Abandon traditional content plans focused on a linear buyer progression and instead embrace a consumer journey where no matter which direction they travel, they get what they need, stressed marketing pro Ashley Faus during O'Dwyer's webinar Apr. 2.
Freelance marketers and the companies that hire them are both satisfied with the current work arrangements they have and anticipate the volume of freelance opportunities to increase in the future, according to new data on the growing freelance marketing economy.
Home Depot's new attempt to occupy two market positions at once will require careful positioning strategy and execution to make it work.
Verizon snags Peloton Interactive chief marketing officer Leslie Berland as its new CMO, effective Jan. 9. Berland succeeds Diego Scotti, who left Verizon earlier this year. 
Norm de Greve, who has been CMO at CVS Health since 2015, is taking the top marketing job at General Motors, effective July 31.
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