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NEW YORK WPP Group today extended for a third time the deadline for acceptance of its nearly $2.2 billion offer to acquire research firm Taylor Nelson Sofres.
TNS management again urged shareholders to reject WPP’s cash and stock offer, which remains unchanged. The new deadline is Oct. 3.
Significantly more shareholders agreed to accept the offer since the last deadline extension two weeks ago. WPP said TNS shareholders representing nearly 34 percent of outstanding shares favor the deal, up from 11 percent two weeks ago.
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