PRWeek reported in December that APCO was in discussions with potential investors.
Teneo, which has made a number of acquisitions recently including Blue Rubicon, was understood to be among the favoured options, but is now no longer in discussions with US-headquartered APCO, which operates more than 30 offices worldwide and had revenue of $118.1m (£79.3m) in 2014.
Chinese agency BlueFocus was also reported to be in talks with APCO, which is majority employee owned, last year. Kraus told PRWeek UK on Tuesday that Teneo and BlueFocus were “only two of a number of firms” to which the consultancy had spoken, and she declined to comment on specifics of the discussions.
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