WPP told to 'stop interfering' in TNS merger
Taylor Nelson Sofres (TNS) yesterday fended off a third attempt from advertising and media giant WPP to muscle in on its planned £1.5bn merger with German rival GfK. The market research firm told WPP and its chief executive Sir Martin Sorrell to "stop interfering" after snubbing the latest approach, which values TNS at £1.08bn.
TNS chairman Donald Brydon said: "The board of TNS has been extraordinarily patient. We have now received three proposals from WPP, each of which substantially undervalues the company." He accused Sir Martin of attempting to frustrate its merger with GfK to benefit WPP's "underperforming" Kantar research consultancy.
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Last Updated:
04 July 2008 8:30 AM
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Source:
n/a
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Location:
Yorkshire
