PARIS, April 15 (Reuters) - Publicis’ shares rose on Monday as analysts welcomed the French advertising company’s $4.4 billion takeover of marketing and data company Epsilon.
Publicis said on Sunday that it would buy Epsilon from U.S. company Alliance Data, expanding Publicis’ digital business and North American footprint.
Publicis shares were up 2.3 percent in early trading. Analysts at brokerage Liberum kept a “buy” rating on the stock, saying the Epsilon deal looked positive.
“With a suggested double-digit adjusted earnings per share/free cash flow accretion, the transaction looks attractive on financial terms and gives Publicis an increased amount of consumer data,” Liberum said.
Reporting by Gwenaelle Barzic and Sudip Kar-Gupta