NEW YORK WPP Group now has 11 months instead of nine to complete its $1.3 billion acquisition of Grey Global Group, according to a filing the company made with the Securities and Exchange Commission on Dec. 1.
Late last month, the companies were notified by the European Union that the information they submitted for regulatory compliance was incomplete, pushing the deadline for a closing date to August 2005 instead of June. Holding company executives, however, expect a deal to become final in the first quarter.
WPP, which owns agencies such as Young & Rubicam, Ogilvy & Mather and J. Walter Thompson, beat out Havas in a bid for Grey Global in September.
A Grey Global Group representative declined to comment on the filing. WPP executives could not be reached for comment.