WPP abandons offer for Aegis
The British advertising holding company and the private equity firm Hellman & Friedman are pulling out of the race to acquire the media and research group.
The British advertising holding company WPP and the
investment company Hellman & Friedman (H&F) will not be a
takeover bid for the media and research group Aegis. This
they announced on Friday. On the same day, the London
the deadline set by the stock exchange supervisory authority for the two partners to submit their
had to make their intentions clear to Aegis. In a communication
Aegis, the parent company of the Carat media network, welcomed the fact that this
the uncertainty surrounding its future would be ended. WPP and H&F had
In September, we submitted a non-binding proposal to the management for a
acquisition. According to Aegis, the price was significantly below the
1.40 pounds per share, which Publicis had previously offered in a similar (and
also abandoned) proposal. WPP and
H&F was therefore informed on November 16 that this proposal was not
basis for continued dialog. Aegis shows itself
confident that its portfolio and its strategy as a
independent company creates significant value for its shareholders
can create.
investment company Hellman & Friedman (H&F) will not be a
takeover bid for the media and research group Aegis. This
they announced on Friday. On the same day, the London
the deadline set by the stock exchange supervisory authority for the two partners to submit their
had to make their intentions clear to Aegis. In a communication
Aegis, the parent company of the Carat media network, welcomed the fact that this
the uncertainty surrounding its future would be ended. WPP and H&F had
In September, we submitted a non-binding proposal to the management for a
acquisition. According to Aegis, the price was significantly below the
1.40 pounds per share, which Publicis had previously offered in a similar (and
also abandoned) proposal. WPP and
H&F was therefore informed on November 16 that this proposal was not
basis for continued dialog. Aegis shows itself
confident that its portfolio and its strategy as a
independent company creates significant value for its shareholders
can create.
