Additional Information


Content

WPP given deadline to make bid for Aegis Group

LONDON - WPP Group and Hellman & Friedman have been given until November 25 to make an offer for Aegis Group, or else declare that they are not interested in making a bid.

Share this article

The Takeover Panel made the ruling following a request by Aegis Group for a deadline to be drawn for the long-winded process. Robert Lerwill, chief executive of Aegis, has also said in the press that he wants WPP to make a decision "sooner and not later".

WPP and Hellman & Friedman first showed interested in Aegis in September, after rival advertising group Publicis admitted it was looking at a possible bid.

Publicis has since withdrawn from the race, leaving WPP and Hellman & Friedman as the only official contenders for Aegis.

WPP is interested in the acquisition because Aegis owns the market research network Synovate. If it did buy Aegis, along with Hellman & Friedman, it is likely the company would be broken up and media agencies Carat and Vizeum, as well as digital network Isobar, would be sold off.

In a statement today, the Takeover Panel said: "Following discussions with the parties' advisers, the panel executive has ruled that WPP and Hellman & Friedman must, by 12 noon on November 25 2005, either announce a firm intention to make an offer for Aegis under Rule 2.5 of the code or announce that they do not intend to make an offer for Aegis."

If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the Forum.

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Additional Information

Latest jobs Jobs web feed

FROM THE BLOGS

The Wall blogs

Native can be networked External website

by Francis Turner, 22/04/2014

 

Why small data matters External website

by Tony Quin, 22/04/2014

 

Back to top ^