WPP: Kantar has Completed Acquisition of 87.8% Stake in Press Index
07/13/2012| 12:00pm US/Eastern
LONDON--Advertising company WPP PLC (>> WPP PLC) Friday said its operating network, Kantar, has completed its acquisition of 1.4 million shares, representing 87.76% of the share capital of Press Index (>> PRESS INDEX).
-Kantar will launch a simplified cash public tender offer to purchase the remaining outstanding shares of Press Index.
-If, at the end of the public tender offer, the non-tendered shares represent less than 5% of the share capital of Press Index, Kantar intends to implement a squeeze-out procedure.
-Shares of WPP on Friday closed at 797 pence.
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