WPP Warns TNS: The Offer Is Final

WPP Group has released a statement warning TNS shareholders that it is not going to up its £1.1 billion bid for the market research company.

The deadline for shareholders to accept the offer ends at 3pm tomorrow – according to reports published last Friday, 43% have already accepted the deal.

TNS, which has consistently encouraged its shareholders to reject the offer, has made no comment to WPP’s earlier announcement.

WPP Group, led by Sir Martin Sorrell, has left its July offer unchanged despite TNS’ efforts to persuade Sorrell to increase his bid, in order to secure backing from the TNS board.

WPP’s offer currently values TNS at £1.14 billion or 259.2p per share, based on last night’s closing price for WPP’s shares.

TNS shares went up by 0.7% this morning, implying that a deal between the two companies is a possibility.

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