Acquisitive media conglomerate WPP is to launch a bid for global communications services group Press Index after buying a majority stake in the firm.
WPP has acquired 87% of the share capital of Press Index from its founders and other sellers, triggering a requirement to make an offer to buy out the remaining shareholders.
WPP will offer €6.81 per share in cash for the shares in the media intelligence and monitoring agency which it does not offer, in a deal which values the whole of Press Index at about €11.2m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
The acquisition suggests it is business as usual at the firm after management were given a bloody nose at yesterday's annual general meeting by shareholders protesting at executive remuneration.
Five things not to put in a will
There are many things to consider when writing a will. But what about things NOT to put in a will? We spoke to legal experts who told us about what you should leave out of a will.
By Nicole García Mérida Published
Autumn Statement: Households still face an extra £4,000 tax bill despite NI cuts
News Autumn Statement tax give-aways will be offset by fiscal drag, the Resolution Foundation warns
By Marc Shoffman Published