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WPP tables TNS takeover offer
Jul 9 2008 Liverpool Daily Post
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TNS provides a range of market research information including focus groups and opinion polls. Its clients include blue-chip firms such as HSBC, Microsoft and Unilever, while it also produces supermarket sales data which is closely watched by the City.
WPP, however, has urged TNS shareholders to vote against the TNS deal. It believes a merger between TNS and WPP’s research consultancy Kantar would create a company holding the number one or two spot in eight of the world’s top ten markets.
The company wants to combine its own strength in the US with TNS’s European presence, as well as delivering £52 million in savings by 2010.
WPP owns a raft of public relations, advertising and marketing groups - including Ogilvy and Hill & Knowlton - but also has a market research arm called Cantos.
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