Private equity firm Forstmann Little & Co said it was undertaking a strategic evaluation of IMG Worldwide that may include a sale of the sports, fashion and marketing agency. "No decision has been made regarding a specific course of action for IMG," Forstmann Little said in a statement. "A definitive timetable has not been set and there can be no assurance that this process will result in a sale of IMG."Forstmann Little acquired the company in 2004. In May it began working with Morgan Stanley and Evercore Partners to find a buyer for the agency that represents sports stars such as quarterback Peyton Manning and tennis champion Venus Williams, according to reports at the time.
Evercore Partners Inc. (Evercore) is an independent investment banking advisory firm. Shares of EVR fell by 0.25% or $-0.12/share to $48.09. In the past year, the shares have traded as low as $24.13 and as high as $48.75. On average, 551344 shares of EVR exchange hands on a given day and today's volume is recorded at 416412.
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS fell by 0.59% or $-0.16/share to $26.76. In the past year, the shares have traded as low as $14.18 and as high as $28.02. On average, 17660600 shares of MS exchange hands on a given day and today's volume is recorded at 8319362.
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