WPP Extends TNS Takeover Offer

WPP has extended its $1.9 billion offer for market research firm TNS until 29 October.

Shareholders accounting for almost 92% of TNS stock accepted the offer as of 3pm yesterday, however WPP is now giving more TNS shareholders the opportunity to accept the deal, reported Brand Republic.

WPP has also announced that it will move to delist TNS shares from trading on the London Stock Exchange after its offer closes next week.

At the start of the month, WPP confirmed that it had secured 81.8% of TNS shareholders’ backing for its takeover bid, enough to make the offer unconditional (see WPP Secures Unconditional TNS Offer).

Following completion of the deal, TNS will be integrated into WPP’s Kantar Group market research division.

WPP: 020 7408 2204 www.wpp.com TNS: www.tnsglobal.com