Reuters: Hot Stocks: Interpublic CEO sees no need for major M&A

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Interpublic CEO sees no need for major M&A Jul 29th 2013, 16:23 July 29 | Mon Jul 29, 2013 12:23pm EDT July 29 (Reuters) - Interpublic Group of Cos does not see a need for a major merger or acquisition following the merger announcement from bigger rivals Omnicom and Publicis, the No. 2 U.S. advertising company's chief executive said on Monday. "As this weekend's surprising news shows, there's no telling what might take place, but we don't see the need for major M&A to keep delivering on our plan to move Interpublic forward," CEO Michael Roth said in an internal memo to employees seen by Reuters. In a statement emailed to Reuters, he said: "There's nothing about scale that makes for better creative ideas, or leads to better integration of marketing disciplines." (Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Rodney Joyce)

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