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GfK Says TNS Bid 'Not Certain'
German market research agency GfK has stressed today that there is no certainty it will make an all-cash offer for UK rival TNS, after the pair scrapped their plans to merge yesterday.
GfK said it was considering the acquisition after WPP made a £1.08bn hostile bid on Wednesday, upon which GfK and TNS called off their merger of equals agreement.
'The Management Board wishes to clarify that there can be no certainty that an offer will be made nor as to the price at which any such offer may be made,' GfK said in a statement to the London Stock Exchange earlier today.
Following the announcement, TNS shares dropped 1.3% to 271 pence, after experiencing a 10% surge on Wednesday, while WPP shares fell 3.3% to 454.25 pence.
Web sites: www.gfk.com , www.tnsglobal.com , and www.wpp.com .
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