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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
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