GfK are reported to be in talks with private equity firm Cinven to make a joint bid for TNS.
The battle for UK research group is developing following last weeks competing bid from WPP at £1.08 billion forcing GfK and TNS to cancel their planned nil-premium merger last week (see
TNS And GfK In Merger Talks).
According to the Daily Telegraph, GfK needs between £400 million and £600 million from a joint venture to beat the WPP offer and keep themselves in the race.
TNS rejected WPP’s bid on the day of offering (see TNS Rejects WPP Takeover Bid)and is thought to favour an acquisition by GfK.
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