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NEW YORK – WPP Group has dropped its resistance over completing its $629 million purchase of Tempus, just a day after the Takeover Panel rejected WPP’s latest appeals to withdraw its offer for the company.
The decision to proceed came during emergency meeting held yesterday to discuss the panel’s executive committee ruling against WPP. The company had claimed that Tempus’ value suffered material adverse changes, and the buyout offer should therefore be nullified.The board meeting was called by WPP chairman Philip Lader.
According
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