Newell and Sorrell ‘not for sale’

Neither Diefenbach Elkins chairman and chief executive John Diefenbach or Newell and Sorrell co-chairman John Sorrell can comment on rumours that they are striking a deal.

“We are in discussions with many companies in Europe,” says Diefenbach. The US group has been on the acquisition path since it was bought by the Interpublic Group of Companies earlier this year. Last week it agreed to buy Davies Baron.

An announcement on its next acquisition will be made in the early autumn, says Diefenbach.

Sorrell insists that Newell and Sorrell is not up for sale.

See News Analysis page 8.