WPP, owner of some of the largest ad agencies and media buyers, has made a hostile offer for research company Taylor Nelson Sofres worth $2.13 billion, the Wall Street Journal reports. WPP had offered a similar sum in a friendly deal with TNS last week for TNS, which has been pursuing a merger with German researcher GfK AG. The combination of TNS and GfK would create a tougher competitor for WPP’s own research unit, the paper says “Although our offer may be characterized by some as a ‘hostile bid,’ we believe that it is in no way hostile to TNS share owners nor to TNS’s clients and people,” WPP CEO Sir Martin Sorrell said in a statement.
WPP’s TNS Deal Turns Hostile
Jul 9, 2008 • Post A Comment