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UK Businesses For Sale

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, the international communications services group, had made two previous bids for TNS which were rejected 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.

It has been suggested that in order for the TNS-GfK deal to remain unaffected by a higher bid from WPP, the terms of the merger could be changed slightly, either by GfK providing a cash sweetener, or allowing TNS to have slightly more than 50 per cent of the combined group.

The enlarged business will be listed in London and called TNS-GfK. The group will have about 24,000 staff.

05 Sep 2008
Events and exhibitions firm, Informa, has rejected a reduced takeover bid from a private equity cons...[more]
04 Sep 2008
The construction arm of Time and Tide Homes Ltd has recently gone into administration. The owners of...[more]
03 Sep 2008
Dunlopillo, the Yorkshire-based pillows and bedding manufacturer, has gone into administration leavi...[more]
02 Sep 2008
Superquinn, the privately-owned Irish supermarket chain, has received several unsolicited approaches...[more]

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