WPP Bid Garners 82% TNS Shareholder Approval

Inspiration meets innovation at Brandweek, the ultimate marketing experience. Join industry luminaries, rising talent and strategic experts in Phoenix, Arizona this September 23–26 to assess challenges, develop solutions and create new pathways for growth. Register early to save.

NEW YORK WPP Group said today that it would proceed with its $1.9 billion acquisition of market research firm Taylor Nelson Sofres now that shareholders representing 82 percent of outstanding shares have agreed to the buyout. The offer, WPP declared, was now “unconditional.”

WPP said that its offer would be extended until Oct. 22 so that shareholders who have not yet agreed to the sale can do so. The holding company also said it would provide notice to TNS shareholders shortly that TNS stock would be delisted from market exchanges, a move that would “significantly reduce the value” of any shares remaining uncommitted to the WPP offer, the holding company said.

WPP

AW+

WORK SMARTER - LEARN, GROW AND BE INSPIRED.

Subscribe today!

To Read the Full Story Become an Adweek+ Subscriber

View Subscription Options

Already a member? Sign in