WPP Plc (WPPGY: Quote,WPP.L) said its wholly-owned operating network Kantar, the information, insight and consultancy group, has entered into binding agreements to acquire 87% of the share capital of Press Index S.A. in France at a price of 6.81 euros per share.
WPP noted that on completion, Kantar will file with the French Market Authority, l'Autorité des marchés financiers, a cash simplified public tender offer to purchase the outstanding shares of Press Index for the same price per share. The company added that if, at the end of the public tender offer, the non-tendered shares held by the minority shareholders represent less than 5% of the share capital and voting rights of Press Index, Kantar plans to implement a squeeze-out procedure.
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by RTT Staff Writer
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