WPP Group notified the London Stock Exchange yesterday afternoon that its formal offer of £5.55 per share had been mailed to stockholders of Tempus Group. The closure deadline for acceptances is October 1 at 3pm.
Havas Advertising chairman-ceo Alain de Pouzilhac is doubtless already poring WPP’s offer document before deciding whether to hike his firm’s original bid of £5.41 which is due to close next Monday.
The Havas bid for the London-headquartered media and marketing services group was last week cleared by European Commission competition regulators [WAMN: 06-Sep-01]. It is unknown whether similar approval has been sought by WPP.
News source: AdAge Global