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NEW YORK The U.K.’s Takeover Panel, a regulatory board that oversees merger and acquisition activity, ruled today that WPP Group and its banking firm Hellman & Friedman must decide by noon on Nov. 25 whether they intend to make a formal bid for London-based holding company Aegis Group.
The ruling came as WPP reported a 26 percent rise in third-quarter revenue to about $2.4 billion compared to the same period a year ago. On a like-for-like basis, excluding the impact of both acquisitions and currency fluctuations, revenue rose about 5 percent, WPP said.
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