The Week: City News - WPP extends offer for TNS

WPP Group has extended its £1.1 billion takeover offer for TNS by a further week after last Friday's deadline lapsed with acceptances from 33.8 per cent of TNS shareholders.

The number of those who have accepted the offer trebled from 11 per cent on 12 September in the space of a fortnight that was marked by deterioration in the economic outlook and by the European Commission's clearance of the proposed deal. WPP, led by its chief executive Sir Martin Sorrell, has now given TNS shareholders who have not yet accepted the deal until this Friday to change their minds. The board of TNS continues to oppose the deal.