Advertising behemoth WPP Group is finally closer to aqcuiring market research company TNS, perhaps most well known to PR pros for their Cymfony media and market analytics tool.
After numerous attempts by WPP Group to acquire Taylor Nelson Sofres (TNS), TNS executives have released a statement recommending that shareholders accept the latest WPP offer. WPP’s efforts first began with a hostile bid in July. By Friday, 61% of TNS investors had accepted the offer, which totals about $2 billion.
WPP Group PR firms include Burson-Marsteller, Hill & Knowlton, and Ogilvy. The PR and public affairs division of the company recently reported a 9% increase in revenue for 1H ’08.