LONDON: Incepta, the UK parent company of all of the Citigate agencies, is currently immersed in merger talks with Huntsworth, home to several large European firms.
In a statement released Monday, Citigate Dewe Rogerson director Patrick Toyne Sewell said, "Although these discussions are at an advanced stage, there can be no certainty they will lead to a transaction."
The statement also said that the merger would involve shares only, based on recent share price averages, and promised another announcement "as soon as possible."
Incepta held merger talks late last year with another UK firm, Chime, but those talks failed when the two sides could not reach a financial agreement.
If Incepta and Huntsworth do merge, their combined market cap would be close to $350 million.