Sorrell: IMG Worldwide is too pricey for WPP

10/11/2013 | Reuters

WPP CEO Martin Sorrell said the company would love to add sports-marketing group IMG Worldwide to its portfolio, but he considers the reported $2.5 billion asking price too high. "That's nosebleed territory for us," Sorrell said. He said Silver Lake and partner William Morris Endeavor Entertainment are the likely front-runners in the bidding.

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