Asatsu-DK Inc (9747.T)
21 Nov 2017
TOKYO/LONDON Britain's WPP agreed on Tuesday to accept Bain Capital's offer for its stake in Japan's Asatsu-DK Inc (ADK) , dropping its threat of litigation after agreeing plans to reinvest in the advertising group at a later date.
* WPP could reinvest in ADK once offer completed (Adds further details)
* Bain Capital says it agrees with WPP to buy Asatsu DK shares
TOKYO, Nov 21 Advertising giant WPP PLC has agreed to sell its stake in Japanese partner Asatsu-DK Inc (ADK) for 3,660 yen ($32.53) per share to Bain Capital LLC, the private equity firm said on Tuesday, heralding the end of a row over a buyout offer.
TOKYO Advertising giant WPP said it would be prepared to raise its stake in Japanese partner Asatsu-DK Inc (ADK) to 33 percent from 25 percent if a disputed tender offer for the company by U.S. private equity fund Bain Capital failed.
* ADK shares up 1.3 pct, below Bain's 3,660 yen/share offer (Adds context, updates shares)
TOKYO, Nov 16 Advertising giant WPP said it would be prepared to raise its stake in Japanese partner Asatsu-DK Inc (ADK) to 33 percent from 25 percent if a disputed tender offer for the company by Bain Capital failed.
* Says BCPE Madison Cayman, L.P. extends period of takeover bid for shares of the co to Nov. 21 from Nov. 15 previously and changes settlement date to Nov. 29 from Nov. 22 previously
* Says WPP 2008 Limited, WPP 2005 Limited, WPP International Holding B.V. (petitioners) have filed a petition for arbitration against the co
TOKYO Advertising giant WPP said on Thursday it was taking legal action against partner Asatsu-DK Inc , deepening a row over the Japanese firm's backing for a $1.3 billion buyout offer from Bain Capital.