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NEW YORK — Citing deteriorating market conditions due to the ad recession and the devastating impact of the terrorist attack last week in New York, French holding company Havas is ending its quest to purchase UK-based media services network Tempus, allowing a clear path for a takeover by Britain’s WPP Group.
Havas, which owns Media Planning Group, retracted its attempt to extend the period for Tempus shareholders to accept its $610 million bid for Tempus, and, in the process, declined to raise WPP’s $629 million counterbid.
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