LONDONTaylor Nelson Sofres PLC Monday confirmed it is in discussions with the Interpublic Group of Companies in relation to the potential acquisition of NFO WorldGroup, but added there can be no assurance that any transaction will be forthcoming.
The company said it is anticipated that any proposed acquisition would be funded primarily by debt and that any additional funding would not involve TNS making a rights issue to its shareholders.
The price currently under discussion is below the $500 million level quoted in previous press reports, the company said.
TNS said its policy is that any acquisition should be earnings enhancing in the first full year of ownership.
The company said it is making no further comment at this stage.
Copyright (c) 2003 Dow Jones & Company, Inc.
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