Sir Martin Sorrell, chief executive of WPP, last night set out clearly his group’s position over the proposed takeover of Cordiant Communications (see WPP Seals £266m Cordiant Takeover), saying that the offer on the table will not be revised.
A letter outlining the details of WPP’s takeover plan, which has been endorsed by Cordiant’s Board, was sent to shareholders at the end of last week. Shareholders will meet to vote on the deal on 23 July.