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NEW YORK WPP Group today extended for a fourth time the deadline for acceptance of its nearly $2.2 billion offer to acquire research firm Taylor Nelson Sofres.
Despite calls by TNS management for shareholders to reject WPP’s cash and stock bid as too low, owners of nearly 61 percent of the company’s outstanding shares have agreed to be bought out — up from 34 percent a week ago, WPP said.
The new deadline is Oct. 8. Terms remain unchanged, and WPP has consistently said it would not sweeten its offer.
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