WPP in Talks for Acquisition of 87% of Press Index, Valued at EUR11.2 Million

Date : 06/14/2012 @ 5:35AM
Source : Dow Jones News
Stock : Wpp Plc ADS Each Representing Five Ordinary Shares (MM) (WPPGY)
Quote : 111.43  0.4 (0.36%) @ 4:01PM

WPP in Talks for Acquisition of 87% of Press Index, Valued at EUR11.2 Million

WPP (LSE:WPP)
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LONDON--WPP PLC (WPP.LN), a communications services group, and Press Index S.A. (ALPRI.FR), a media intelligence and monitoring group, announced Thursday exclusive negotiations for the acquisition by WPP of shares representing 8% of the outstanding shares of Press Index from its founders as well as other sellers.

MAIN FACTS:

-Provided this transaction completes, the purchaser would initiate an all-cash simplified tender offer to acquire the remaining outstanding shares of Press Index

-The price per share would be 6.81 euros in cash; this price would currently value Press Index at EUR11.2 million total equity value.

-WPP shares at 902 GMT, down 14 pence, or 1.79%, at 739.5 pence valuing the company at GBP9.49 billion.

-Write to Rory Gallivan at rory.gallivan@dowjones.com

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