NEW YORK, NY (April 7, 2003) –The Interpublic Group of Companies, Inc. (NYSE: IPG) today announced final results of its tender offer for any and all of its outstanding zero coupon convertible senior notes issued in December 2001. The tender offer expired at 12:00 midnight, New York City time, on Friday, April 4, 2003.
Interpublic has been advised by the depositary that, as of the expiration time of the offer, approximately $700.5 million in aggregate principal amount at maturity of notes (or 99.79% of the issue) had been validly tendered and not withdrawn pursuant to the tender offer (including $118.2 million of notes tendered pursuant to the procedures for guaranteed delivery). Interpublic has accepted for purchase, at a price of $829.88 per $1,000 principal amount at maturity, all of the notes validly tendered and not withdrawn pursuant to the tender offer. The cash payment required to complete the tender offer is approximately $581.3 million. Payment for the notes accepted for purchase is expected to occur on or about Tuesday, April 7, 2003.
Salomon Smith Barney Inc. served the dealer manager for the tender offer; Mellon Investor Services LLC served as the information agent and the depositary.
The Interpublic Group is among the world's largest advertising and marketing organizations. Its global operating groups are McCann-Erickson WorldGroup, The Partnership, FCB Group and Interpublic Sports and Entertainment Group. Major global brands include Draft Worldwide, Foote, Cone & Belding Worldwide, Golin/Harris, NFO WorldGroup, Initiative Media, Lowe & Partners Worldwide, McCann-Erickson, Octagon, Universal McCann and Weber Shandwick.
|Philippe Krakowsky||Susan Watson|
|(212) 399-8088||(212) 399-8208|