Interpublic Group stock continued its feverish run-up today, reaching a high of $19.50 — its highest price in years. By midafternoon, volume was about 60% higher than usual, with over 11 million shares traded.
The hectic trading in IPG’s stock comes amid speculation, first reported by CNBC, that hedge fund Elliott Management is buying up shares and placing a big bet that IPG may be acquired.
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