Financial Times FT.com

Clock ticking on WPP bid for TNS

By Tim Bradshaw

Published: July 5 2008 03:16 | Last updated: July 5 2008 03:16

WPP was on Friday night considering whether to take its bid for Taylor Nelson Sofres hostile as its target received mixed news on its preferred merger with GfK, the German market research group.

With just days to go before Wednesday’s Takeover Panel deadline, analysts said Sir Martin Sorrell’s marketing group had three alternatives: WPP could remove the conditions from Thursday’s 260p possible offer and take it directly to shareholders; raise it to win round the TNS board, which has already rejected three WPP proposals; or walk away.

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