Havas Advertising has once again extended the deadline on its offer to buying agency Tempus. The original 541p-per-share offer made by Havas (see Tempus Shares Soar On Havas Takeover Reports) expired at the beginning of the month (see Havas Moves In On Tempus)and was extended until 17th September. Havas has now extended this deadline to September 24th and has again resisted the opportunity to issue a higher bid.
During this time, WPP has made a counter offer for Tempus (see
Tempus Confirms WPP Offer) and both potential buyers have quietly increased their stake in the media buying agency. WPP now controls almost 25% of Tempus’ issued share capital while Havas has 29.3%.
