TNS and GfK merger may be challenged by counter-bid
04/06/2008
Taylor Nelson Sofres (TNS), the British market researcher, plans to create the world's second largest market researcher in a £2.2 billion merger with Germany's GfK.TNS plan to save £76m over three years with 500 job losses after the merger.It is thought, however, that Sir Martin Sorrell of WPP is seriously considering a counter-bid of £1.2 billion.WPP, international communications services group, had made two previous bids for TNS which were not at the right price at the time.According to reports, the Chief executive of TNS, David Lowden said that WPP would have to make a very competitive proposal in order to make any headway with a counter-offer.
