4th Sep 2008 16:31
2008/40
OFFER BY
WPP GROUP PLC ("wpp")
for
TAYLOR NELSON SOFRES PLC ("tns")
offer timetable extended
Rule 31.9 of the Code requires that all material new information should ordinarily be published by the offeree company by the 39th day following the posting of the offer document. Normally, therefore, the last day for publication by TNS of material new information in the context of the offer by WPP (the "Offer") would be Tuesday, 9 September. WPP has filed the Form CO required by Council Regulation (EC) 139/2004 (the "ECMR") but, under the European Commission's procedures, the decision as to whether or not it will initiate proceedings under Article 6(1)(c) of the ECMR may not be announced until Tuesday, 23 September.
In these circumstances, pursuant to Note 3 on Rule 31.6, the Executive has ruled that "Day 39" will be deemed to be the second day after the announcement of that decision.
"Day 46" (the last date for the posting of a revised offer) and "Day 60" (the date by which an offer must become unconditional as to acceptances) will also be extended accordingly. The next closing date of the Offer will not be affected by this extension.
Each of the parties has accepted the Executive's ruling.
4 September 2008
Related Shares:
WPP