WPP PLC (WPPGY.OQ)
16 Oct 2017
Thu, Oct 12 2017
LONDON WPP, the world's biggest advertising agency, on Thursday stepped up its efforts to stop U.S. private equity firm Bain Capital from buying Japan's Asatsu-DK Inc, saying the offer significantly undervalued its stake in the firm.
LONDON, Oct 12 WPP, the world's biggest advertising agency, on Thursday stepped up its efforts to stop U.S. private equity firm Bain Capital from buying Japan's Asatsu-DK Inc, saying the offer significantly undervalued its stake in the firm.
* NOTED ADK’S “DELAYED FAQ REGARDING TENDER OFFER FOR THE SHARES OF THE COMPANY”
* Top shareholder WPP also believes offer undervalues ADK -source
HONG KONG (Reuters Breakingviews) - In a Japanese ad-land spat, Bain Capital has the advantage. On Monday, the U.S. buyout firm unveiled a 152 billion yen ($1.3 billion) deal to privatise Asatsu-DK, Japan’s third-largest advertising agency. This gives ADK’s bosses a way to escape a disappointing 1998 tie-up with Britain’s WPP.
* MORGAN STANLEY ANNOUNCES THE SALE OF UP TO 22.5 MILLION SHARES IN WPP BY MEANS OF AN ACCELERATED BOOKBUILD OFFERING
* Asatsu-DK wants to end WPP alliance (Writes through, adds source on WPP view)
* ACQUIRES MAJORITY STAKE IN DANISH DIGITAL AGENCY, DIS/PLAY Source text for Eikon: Further company coverage:
LONDON WPP , the world's largest advertising group, cut its sales target for the second time in six months on Wednesday after consumer goods giants curbed spending, putting its shares on track for their worst day in 19 years. | Video
LONDON Media stocks weighed on European markets on Wednesday, led lower by sharp declines in advertising giant WPP after it cut sales forecasts on weakening demand.
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