Rumours that Omnicom Group is likely to pay about £60 million over time for the acquisition of Adam & Eve Group seem rather wide of the mark, given that the successful London advertising agency made a pre-tax profit of £1.4 million in 2010.
Leaving aside any further profit growth in 2011 – the figures are not available yet – a £60 million price tag would have represented a multiple of around 44 times the agency’s pre-tax profit in 2010.
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