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WPP PLC (WPP.L)

WPP.L on London Stock Exchange

926.00GBp
23 Jul 2019
Change (% chg)

1.40 (+0.15%)
Prev Close
924.60
Open
931.20
Day's High
935.20
Day's Low
926.00
Volume
2,402,189
Avg. Vol
3,455,936
52-wk High
1,323.50
52-wk Low
791.00

Latest Key Developments (Source: Significant Developments)

WPP To Sell 60% Of Kantar To Bain Capital
Friday, 12 Jul 2019 

July 12 (Reuters) - WPP PLC ::PROPOSED SALE OF 60% OF KANTAR.WPP LEVERAGE TARGET TO BE MET A YEAR AHEAD OF PLAN; C.£1.0BN SHAREHOLDER RETURN PLANNED.INVESTMENT BY BAIN CAPITAL PRIVATE EQUITY VALUES KANTAR AT C.$4.0BN.WPP LEVERAGE TARGET TO BE MET A YEAR AHEAD OF PLAN; C.£1.0BN SHAREHOLDER RETURN PLANNED.PROCEEDS TO WPP ON COMPLETION AFTER TAX AND CONTINUING INVESTMENT IN KANTAR EXPECTED TO BE C.$3.1BN.IMPACT OF PROPOSED TRANSACTION AND USE OF PROCEEDS EXPECTED TO BE MARGINALLY DILUTIVE TO HEADLINE EPS IN 2021.POTENTIAL VALUE UPSIDE FOR WPP SHAREHOLDERS FROM 40% EQUITY STAKE IN KANTAR.TO RETAIN C.60% OF NET PROCEEDS FROM DEAL TO REDUCE DEBT TO LOW END OF TARGET LEVERAGE RANGE OF 1.5 - 1.75X AVERAGE NET DEBT/EBITDA FOR 2020.IMPACT OF PROPOSED TRANSACTION AND USE OF PROCEEDS EXPECTED TO BE MARGINALLY DILUTIVE TO HEADLINE EPS IN 2021.EQUITY VALUE OF DEAL AFTER EXPECTED COMPLETION ADJUSTMENTS IS C.$3.7BN (C.£3.0BN).COMPLETION AND ASSOCIATED PROCEEDS RELATING TO NO LESS THAN 86% OF KANTAR EXPECTED IN EARLY 2020.AFTER DEAL COSTS, TAX & WPP'S CONTINUING INVESTMENT OF C.$0.4BN TO OWN 40% OF EQUITY IN KANTAR, NET CASH PROCEEDS TO WPP EXPECTED TO BE C.$3.1BN.WPP MAY RECEIVE CERTAIN OTHER PAYMENTS DURING LIFE OF ITS PARTNERSHIP WITH BAIN CAPITAL.MAY GET ADDITIONAL CONSIDERATION OVER NEXT 3 YEARS IN RESPECT OF SOME CONTINGENT LIABILITIES, IF SUCH LIABILITIES ARE LOWER THAN ESTIMATED.COMPLETION (AND ASSOCIATED PROCEEDS) RELATING TO A LARGE MAJORITY OF KANTAR'S OPERATIONS IS EXPECTED IN EARLY 2020.  Full Article

WPP Buys Majority Stake In AQuest
Thursday, 4 Jul 2019 

July 4 (Reuters) - WPP PLC ::AQUEST JOINS WPP.WPP TODAY ANNOUNCES ACQUISITION OF A MAJORITY STAKE IN ITALIAN TECHNOLOGY-DRIVEN CREATIVE AGENCY, AQUEST.DEAL TERMS ARE NOT DISCLOSED.  Full Article

WPP AUNZ Updates On Potential Sale Of Kantar Business By WPP Plc
Tuesday, 2 Jul 2019 

July 2 (Reuters) - Wpp Aunz Ltd ::UPDATES ON POTENTIAL SALE OF KANTAR BUSINESS.WPP AUNZ SAYS WPP ENTERS EXCLUSIVE DISCUSSIONS WITH BAIN CAPITAL FOR SALE OF MAJORITY SHAREHOLDING IN KANTAR.WPP AUNZ SAYS HEADLINE ENTERPRISE VALUE OF KANTAR (FOR 100%) IS C.$4BN.EXPLORING STRATEGIC OPTIONS OVER KANTAR, IN DISCUSSIONS WITH WPP PLC TO SELL ALL OF ITS STAKE IN KANTAR BUSINESS IN AUSTRALIA, NEW ZEALAND.NO CERTAINTY THAT TRANSACTION WILL OCCUR OR THAT DISCUSSIONS WITH WPP WILL RESULT IN WPP AUNZ PARTICIPATING IN TRANSACTION.  Full Article

WPP Says Kantar Stake Sale Progressing In Line With Expectations, FY Guidance Unchanged
Wednesday, 12 Jun 2019 

June 12 (Reuters) - WPP PLC ::WPP 2019 AGM STATEMENT.FULL-YEAR GUIDANCE UNCHANGED.PREVIOUSLY ANNOUNCED PROCESS FOR SALE OF A MAJORITY STAKE IN KANTAR IS PROGRESSING IN LINE WITH OUR EXPECTATIONS.  Full Article

WPP Announces Results Of The Proposal And The Tender Offer
Monday, 25 Mar 2019 

March 25 (Reuters) - WPP PLC ::RESULTS OF THE PROPOSAL AND THE TENDER OFFER.AT MEETING, EXTRAORDINARY RESOLUTION WAS PASSED & BECAME UNCONDITIONAL; ACCORDINGLY THIRD SUPPLEMENTAL TRUST DEED RELATING TO BONDS EXECUTED.  Full Article

WPP Appoints Microsoft UK CEO Cindy Rose To Board
Tuesday, 12 Mar 2019 

March 12 (Reuters) - WPP PLC ::BOARD APPOINTMENT.APPOINTS MICROSOFT UK CEO, CINDY ROSE OBE, TO BOARD.ANNOUNCES APPOINTMENT OF CINDY ROSE OBE TO ITS BOARD AS A NON-EXECUTIVE DIRECTOR.  Full Article

Geometry Says CEO Steve Harding Hands Reins To Beth Ann Kaminkow
Friday, 1 Mar 2019 

March 1 (Reuters) - WPP PLC ::GEOMETRY - CEO STEVE HARDING HANDS REINS TO BETH ANN KAMINKOW AFTER 14 YEARS.  Full Article

WPP Appoints Walmart's Jacqui Canney As Global Chief People Officer
Wednesday, 27 Feb 2019 

Feb 27 (Reuters) - WPP PLC ::WPP APPOINTS TOP WALMART EXECUTIVE JACQUI CANNEY AS GLOBAL CHIEF PEOPLE OFFICER.CANNEY SUCCEEDS MARK LINAUGH, WHO HAS DECIDED TO RETIRE FROM BUSINESS.APPOINTMENT OF JACQUI CANNEY AS GLOBAL CHIEF PEOPLE OFFICER, EFFECTIVE JUNE 1, 2019.  Full Article

WPP Says Paul Richardson Gives Formal Notice Confirming His Retirement
Thursday, 31 Jan 2019 

Jan 31 (Reuters) - WPP PLC ::BOARD RETIREMENT.PAUL RICHARDSON, GROUP FINANCE DIRECTOR, HAD DECIDED TO RETIRE FROM WPP IN 2019.RICHARDSON GAVE FORMAL NOTICE CONFIRMING THAT HE WOULD BE RETIRING AND FORMALLY LEAVING BOARD ON 31 JANUARY 2020..RECRUITMENT PROCESS FOR A NEW GROUP FINANCE DIRECTOR IS UNDERWAY AND A FURTHER ANNOUNCEMENT WILL BE MADE IN DUE COURSE..  Full Article

WPP To Sell Its 49 Pct Shareholding In Richard Attias & Associates - Sky News
Wednesday, 30 Jan 2019 

Jan 30 (Reuters) - :WPP GROUP TO SELL ITS 49 PERCENT SHAREHOLDING IN 'DAVOS IN THE DESERT' ORGANISER RICHARD ATTIAS & ASSOCIATES FOR TENS OF MILLIONS OF POUNDS - SKY NEWS.  Full Article

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Slimmed-down WPP to net $3.1 billion selling Kantar stake to Bain

WPP is selling a 60% stake in Kantar to private equity firm Bain Capital, valuing the data analytics business at about $4 billion and giving the British owner of agencies including Ogilvy and Wunderman Thompson funds to cut debt and rebuild.