• Most Popular
  • Most Shared

Reuters Industry Summit

The first Boeing 787 Dreamliner sits on the assembly line at the company's Everett plant in Washington in this May 19, 2008 file photo. REUTERS/Robert Sorbo/Files

Aerospace and Defense

Defense budgets are not declining as sharply as some had feared, but companies are scrambling to ensure continued earnings growth. Get exclusive insight into the defense sector from the Reuters Aerospace and Defense Summit.  Full Coverage 

    WPP declares victory in TNS bid battle

    LONDON
    Wed Oct 8, 2008 1:52pm EDT
    UK's Group Chief Executive of WPP Sir Martin Sorrell speaks during a news conference before the World Economic Forum on East Asia at a hotel in Tokyo June 15, 2006. REUTERS/Kiyoshi Ota

    Stocks

       

    LONDON (Reuters) - Martin Sorrell's WPP Group (WPP.L) declared victory in its acquisition of British market research firm Taylor Nelson Sofres TNS.L on Wednesday, securing support from 82 percent of the target's investors.

    The world's second largest advertising and marketing group said in a statement on Wednesday it had now declared the offer unconditional and extended the offer period for further acceptances until October 22.

    It will no longer offer the option to mix and match the share to cash ratio though.

    TNS, which spent months urging its shareholders to reject the 1.1 billion pound ($1.93 billion) offer, finally urged its them to accept the deal earlier this week.

    "We are delighted to be a step closer to welcoming such a fine company with strong people, clients and brands that will enhance our client offering," Sorrell said in a statement.

    (Reporting by Kate Holton; Editing by Paul Bolding)


    More from Reuters

    Demonstrator holds a signboard with a slogan "Bla bla bla ACT NOW" during a rally outside the UN Climate Change Conference in Copenhagen December 12, 2009. REUTERS/Christian Charisius

    "Polluters are given rights to continue their dirty habits"

    A climate change scientist blasts proposals for a cap and trade system, arguing it allows dirty industries to continue polluting, instead of rewarding innovation.  Full Article | Full Coverage 

      Climate Conference
      Federal Reserve Chairman Ben Bernanke is pictured at his Senate Banking, Housing and Urban Affairs Committee hearing on his nomination to continue as Chairman of the Board of Governors, on Capitol Hill in Washington, December 3, 2009. REUTERS/Jason Reed

      No great expectations

      Investors are getting antsy about when the Fed will tighten its purse strings, now that the economy appears to be coming back to life.   Full Article 

      ECONOMY
      Indian woman mourns death of her relative killed in tsunami in Cuddalore. When an earthquake of magnitude 9.15 struck off Indonesia's Aceh province on December, 26, 2004, it triggered a huge tsuanmi that raced across the Indian Ocean and hit Indonesia, Thailand, Sri Lanka and India. The worst natural disaster of the decade left 230,000 people dead or missing. Taken on December 28, 2004 by Arko Datta

      Pictures that defined a decade

      A woman's grief amid the tsunami devastation and one woman's fight against police in the Amazon are among the indelible Reuters images of the last 10 years.  Slideshow 

      Pictures