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Publicis Could Spend EU4b-EU5b on Deals, Cash Return: Exane 2014-05-13 07:07:50.283 GMT
By Michael Sin May 13 (Bloomberg) -- Publicis could spend EU4b-EU5b on combination of M&A, cash return in next 4 yrs and boost L-T EPS by over 30% while remaining within debt targets, Exane says in note. * Exane (outperform): Valuation is attractive; current price is good entry point ahead of substantial upgrades driven by balance sheet use * Co. can return substantial cash in long run while pursuing deals and still be relatively under-leveraged * NOTE: Publicis could make a hostile Omnicom bid and succeed: Natixis * 18 buys, 7 holds, 0 sells; avg PT EU69.52 (upside 15%): Bloomberg data
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To contact the reporter on this story: Michael Sin in London at +61-2-9777-8648 or msin12@bloomberg.net To contact the editor responsible for this story: James Ludden at +44-20-7673-2645 or jludden@bloomberg.net