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SBD Global/May 8, 2013/Finance
IMG Reportedly Rejects A Combined $2B Bid From Colony Capital, Qatari Royals
Published May 8, 2013
ON YOUR MARK: FORBES' Naazneen Karmali reported Ambani, "has reportedly joined the race to acquire IMG Worldwide," which "is expected to fetch" up to $3B. What’s working in Ambani’s favor is that his Reliance Industries "already has a joint venture with IMG," one of four such partnerships the agency has outside the U.S. No official confirmation from either IMG or Reliance "is as yet forthcoming" (FORBES, 5/5).