25th Nov 2005 11:10
WPP Group PLC25 November 2005 25 November 2005 WPP GROUP PLC ("WPP") STATEMENT REGARDING AEGIS GROUP PLC ("AEGIS") On 14 October 2005, WPP announced that it was in discussions with a privateequity partner to explore the feasibility of a cash offer for Aegis. Followinga period of initial discussions and limited due diligence, an indicativeproposal was submitted to the board of Aegis on 16 November 2005 by WPP andaffiliated funds of Hellman & Friedman LLC ("H&F"). The proposal outlinedalternative all cash offers, one by WPP and H&F, and one by WPP, H&F and,possibly, one other party. WPP has since been informed that the board of Aegisdoes not wish to pursue either alternative. Accordingly, WPP announces that ithas no intention to make an offer for Aegis.* Enquiries: Feona McEwan, WPP Telephone: +44 20 7408 2204 * Pursuant to Rule 2.8 of The City Code on Takeovers and Mergers, WPP reserves the right to set aside the statement above if any of the following events occurs: (i) a third party announces a firm intention to make an offer for Aegis, (ii) the agreement or recommendation of the board of Aegis or (iii) Aegis announces a whitewash proposal or a reverse takeover. END This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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