WPP: Kantar Buys 87% Of Press Index for EUR6.81/Share
07/04/2012| 04:20am US/Eastern
LONDON--Advertising firm WPP PLC (>> WPP PLC) said Wednesday its wholly-owned operating network Kantar, is buying 87% of Press Index S.A. (>> PRESS INDEX) in France for 6.81 euros per share.
-On completion, Kantar will file with the French Market Authority, l'Autorite des marches financiers, a cash simplified public tender offer to purchase the outstanding shares of Press Index for the same price.
-Press Index is a search and media intelligence agency with offices in France, U.K., Spain and Italy.
-Press Index's consolidated audited revenue for the year ended Dec. 31, 2011 was EUR17.5 million, with gross assets of EUR 12 million as at the same date.
-WPP shares at 0800 GMT up 2 pence, or 0.25%, at 812 pence valuing the company at 10.21 billion pounds.
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