|
|
Article: DFGW: Lowe 'spun' the truth about breakdown of merger.(Duckworth Finn Grubb Waters)(Lowe London )(Brief Article)
- Article from:
- Marketing Week
- Article date:
- December 8, 2005
CopyrightCOPYRIGHT 2005 Centaur Communications Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Independent agency DFGW has launched a withering attack on beleaguered Lowe London following the breakdown of a merger of the two agencies.
Lowe was expected to acquire DFGW within the next two weeks, but the deal was shelved in the aftermath of Lowe's biggest client Tesco firing the agency after a 16-year partnership.
Lowe confirmed Tesco's departure in a statement. adding: "In light of these events, Lowe London can also confirm that it is no longer seeking to acquire independent ad agency DFGW."
The management at DFGW is however furious and claims Lowe has "spun" the truth - which is that DFGW independently chose to break off the deal ...