The $5.5 billion merger between America's Young & Rubicam and Britain's WPP looked like a dream deal. With billings of nearly $54 billion, the combined group would have become the world's biggest marketing-services group and one of its most impressive. Although Y&R'S advertising agency has been losing accounts recently, it still has an illustrious client list, several of which, including Ford, Sears and Kraft, it already shares with its British rival.
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