The Week: City News - WPP extends TNS deadline

WPP has extended the deadline of its £1.1 billion takeover offer for TNS by two weeks, after just 8.6 per cent of TNS shareholders accepted the offer in time for last Friday's original deadline.

As a result, TNS has issued a statement highlighting the "low level" of acceptances received by WPP, and reinforcing its belief that shareholders should reject the offer. Despite extending the deadline until 12 September, WPP has not improved the terms, valuing each TNS share at 274.5p.

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