WPP waiting for remaining TNS shareholders to accept its offer
LONDON - WPP has extended its offer for TNS to give the remaining 8% of shareholders who have not yet accepted, more time to do so before it exercises its right to compulsorily purchase them.
Having won its battle to take control of TNS two weeks ago by receiving acceptances from more than 75% of shareholders, WPP is tying up loose ends before delisting the market research company from the stock market.
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It said yesterday it had acceptances for 91.7% of TNS shares and urged shareholders who have yet to accept the offer to do so.
It has extended its deadline for acceptances until Wednesday October 29.
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