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Thursday, November 21, 2013

Dentsu reaps benefits of Aegis deal, wins business from rivals, (NYSE: MS)

Japanese advertising group Dentsu is winning global media contracts for the first time through its newly-acquired Aegis business and has been taking work away from rivals Omnicom and Publicis since the two decided to merge. Tim Andree, executive chairman of Dentsu Aegis Network, said the business was growing rapidly since it acquired British media group Aegis, a deal announced in July last year.Andree, speaking at the Morgan Stanley investor conference in Barcelona, said there had been no disruption as a result of the transaction and the group had managed to maintain its momentum."We've had some success when you look at our new business record in the past quarter, we've had a high percentage of that business coming from Publicis Omnicom."Dentsu paid nearly a 50 percent premium to purchase Aegis for 3.2 billion pounds in July 2012, in the biggest deal in its history, showing a need to expand outside its home market Japan.

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 traded higher by 2.02% or $0.61/share to $30.88. In the past year, the shares have traded as low as $16.23 and as high as $30.78. On average, 13173400 shares of MS exchange hands on a given day and today's volume is recorded at 5330477.