Top Story


Home >> International >> Article

International: WPP to honor Tempus bid

Font Size   16
International: WPP to honor Tempus bid

WPP Group has decided to discontinue its efforts to abandon its $639 million bid for U.K. media buying group Tempus. Contrary to its stated intentions last week, WPP has told the U.K. Takeover Panel-the non-statutory body that administers the City Code of Takeovers and Mergers-that it will not appeal against a ruling last week by the Panel.

The Oct.31 ruling stated that Martin Sorrel's group would not be allowed to invoke any 'material adverse' condition in its original offer for Tempus. WPP made its bid in August but after tried to exit the deal citing the exceptional circumstances following Sept.11.

WPP's offer for Tempus is now unconditional and remains open until further notice.

In a statement, WPP added: "Throughout the bid process, the Board has remained convinced of the long term strategic benefits of combining WPP with Tempus, particularly in connection with the merger of CIA and The Media Edge and the combination of the Tempus strategic marketing businesses with WPP's strategic marketing consultancies.

"WPP's objective is now for both management teams to work closely together to integrate the two businesses and capitalize on the strategic benefits as quickly as possible.


Baba Ramdev brought his sharp wits for an interview with e4m where he promised to disrupt more markets and spoke about he the way he created a brand through consistent and selfless work

GroupM is in talks with several digital clients currently with its other agencies to shift them to Essence, which is looking at a major expansion plan in 2018

Thomas, Chief Marketing Officer, Diageo India, gives us a peek into the marketing strategy for McDowell’s No 1 Soda, its creation of ‘No 1 Yaari Jam,’ their own set of 4Ps and importance of content

NewsCode, a hyper local online news platform was launched last night with a network of over 350 local reporters in Karnataka and Jharkhand. Apurv Swarup, the co-founder talked to Exchange4Media about his vision

Voot, which is producing almost 4X content on an overall basis on the reality drama, is gunning for big numbers both on viewership and advertising revenue

YouTube today released its annual year-end edition of the YouTube Ads Leaderboard 2017 capturing the most celebrated ads that received maximum views, shares, and love from audiences across India

Real world study of Appier's network shows significant benefits of AI over traditional rule-based systems