BRUSSELS: The European Commission has extended by a further ten working days its investigation into WPP Group's £1.203 billion ($2.14bn; €1.48bn) hostile bid for Taylor Nelson Sofres.
The EC's decision as to whether or not the merger of TNS with WPP's Kantar Group would be anti-competitive, originally expected next Tuesday, has now been put back until September 23.
Meantime, TNS shareholders continue to demonstrate their disinterest in Sir Martin Sorrell's £2.745 per share offer, with a mere 8.6% of investors having agreed to sell by the original deadline's expiry on August 29.
At which point the offer was hastily extended until September 12.
For its part, TNS has been urging shareholders to sit tight and await a better deal – which may or may not be forthcoming from WPP.
Some observers, however, do not rule out a resuscitated bid from GfK Verein of Germany, TNS's original partner of choice.
Data sourced from mrweb.com; additional content by WARC staff