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WPP Group says it’s ready to close the deal for its $2 billion (£1.14 billion) takeover of TNS Media Intelligence, having received the supp…

WPP Group says it’s ready to close the deal for its $2 billion (£1.14 billion) takeover of TNS Media Intelligence, having received the support of 82 percent of the audience researcher’s shareholders, Reuters reports. The is now unconditional, though the extended offer period for further acceptances is open until Oct. 22. WPP will no longer offer the option to mix and match the share to cash ratio, however. As more shareholders shifted their support to WPP over the past week, TNS finally dropped its opposition to the deal on Monday, though it continued to maintain the WPP’s bid undervalued the company. Executives at the UK media measurement firm said they were in an untenable position, as continued attempts to block the takeover would have left TNS investors holding on to a minority interest in an unlisted company.

  1. As an employee of TNS I just want to point out that TNS Media intelligence is just a small part of the TNS business and ironically is one of the sections of the business that may in fact need to be sold by WPP!!

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