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NEW YORK WPP Group has issued a formal offer to acquire research firm Taylor Nelson Sofres.
WPP posted the offer on its Web site Saturday, about the same time shareholders received the materials via standard mail, according to the London-based holding company. The offer values TNS at slightly more than $2.28 billion, based on the current rate of exchange.
German research firm GfK, a rival suitor for TNS, issued a statement urging the latter’s shareholders not to accept WPP’s bid “at this time,” as it continues talks with potential partners to come up with a counterproposal.
WPP set an Aug.
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