WPP Snaps Up Japanese Media Services Firm

WPP has made a non-binding offer to acquire the shares of ad and marketing services company D.A. Consortium Inc. (DAC) from Japan's Asatsu-DK Inc., in which the ad and insights giant already has a 22.9% stake.

DAC offers an all-round package of support for planning and buying of Internet ads, including traffic management, forums for agency / publisher interaction, media process outsourcing, SEO and ad evaluation services.

Asatsu-DK announced on Friday that having formed a joint venture with Dentsu Inc. it would sell its entire holding of shares in DAC as the latter is an affiliate of Dentsu competitor Hakuhodo DY Holdings Inc. DAC's own management will buy about 40,000 of the c.130,000 of its shares currently owned by Asatsu-DK, with the remainder up for sale.

WPP's offer of $476.44 per share is subject to contract and confirmatory due diligence, with final terms still to be agreed between the boards by September 2.

Web sites: www.adk.jp/english , www.dac.co.jp/english and www.wpp.com .