The Week: City News - TNS fails to agree WPP deal

A meeting last week between WPP and TNS failed to secure a higher offer for the market research company, TNS said on Friday.

Just 11 per cent of TNS shareholders have accepted WPP's current bid for the company, which values the business at £1.22 billion. WPP has now further extended the deadline for take-up to 26 September, three days after the European Commission is expected to deliver the verdict of its investigation into the proposed deal. TNS continues to recommend that shareholders reject the current offer.