WPP Group's prospects of winning the battle for market research firm TNS improved this morning as the German suitor GfK ended talks to buy the British firm. In a statement this morning TNS said that after four months of talks GfK had informed them that it was "no longer pursuing a possible offer for TNS".
German market research firm Gfk nows says there is no certainty that it will launch a bid to rival WPP Group for TNS. Yesterday, Gfk terminated its proposed nil-premium merger with TNS and said it was "actively pursuing a proposal" that would involve an alternative all-cash offer being made for the British firm.Gfk said yesterday: "While negotiations are at an early stage, GfK has received a strong indication of interest in this transaction. The form of consideration being considered is all cash, although the formal right to vary this is reserved."
TNS has pushed ahead with its plans to merge with German market research rival GfK in what it says is a 'merger of equals', after spurning the overtures of Sir Martin Sorrell and his WPP Group.
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