Canada's MDC Partners Inc raised its 2012 revenue outlook by $50 million, as the advertising and marketing company won new clients and acquired a stake in a Detroit-based agency.The company picked up a "significant" interest in Doner, which counts Chrysler Group LLC, Coca-Cola Co, Coleman Co and AutoTrader.com as it clients."We have a substantial minority (in Doner) and ... will ultimately, convert our convertible preferred, and go to majority," Chief Executive Miles Nadal said in a conference call.MDC Partners did not disclose the financial details of the deal but said it would not spend more than $10-$15 million on acquisitions this year.
MDC Partners Inc. (MDC) is a provider of marketing communications services to customers globally. Shares of MDCA traded higher by 5.16% or $0.54/share to $11.00. In the past year, the shares have traded as low as $10.37 and as high as $20.99. On average, 131973 shares of MDCA exchange hands on a given day and today's volume is recorded at 249297.
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