Lopex

Lopex P.L.C., a marketing services agency in London, has agreed to be sold to Havas Advertising in Paris for $105 million in cash. Lopex owns agencies that specialize in services like advertising, direct marketing, research, public relations and design.

The Havas offer for Lopex beat an all-stock offer from the Incepta Group in London, which owns 29.9 percent of Lopex along with a company called Southwind Ltd. Havas, which owns agencies like Euro RSCG Worldwide, is paying about $1.88 for each share of Lopex, 54 percent more than the closing price on July 1, the day before the offer from Incepta. As of Friday, Havas had bought 50.1 percent of the shares.

Notes

1. Marketing Services Are Gobbled Up in Agency Consolidation The New York Times, July 20, 1999, by Stuart Elliott.