Taylor Nelson Looks At NFO WorldGroup Acquisition
Market research company, Taylor Nelson Sofres (TNS), has this morning confirmed that it is in discussions about the potential acquisition of NFO WorldGroup from its owner, Interpublic Group.
TNS says the proposed acquisition would be funded primarily by debt and that no additional funding would involve the company making a rights issue to its shareholders. The group also indicated that the price on the table for NFO is below the $500 million quoted in previous press reports.
Any acquisition should be earnings enhancing within the first full year of ownership, in keeping with acquisition policy, TNS added. However, despite today’s announcement, the group was also clear to point out that “there can be no assurance that any transaction will be forthcoming.”
Shares in Taylor Nelson Sofres were down by 1p at 111.5p following this morning’s announcement.
