The Week: City news - TNS shares rise 12 per cent
Shares in the research company TNS rose 12 per cent after it rejected a £948 million offer from WPP.
The 230p-a-share offer was tabled four days after TNS and its rival
company GfK said they were in discussions about a merger. After TNS
rejected the offer in favour of continuing talks with GfK, the WPP chief
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executive, Sir Martin Sorrell, said: "While we continue to review our
position, we encourage TNS shareholders to urge their board to engage
with us rather than simply persisting on an exclusive basis with a
'nil-premium merger' arrangement with GfK."
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