WPP PLC (WPP.L)
13 Dec 2017
Wed, Dec 13 2017
* Says co signs agreement with WPP plc and its group companies (WPP Group), regarding the termination of capital and business alliance with WPP Group and the withdrawal of the petition for arbitration and the petition for an order for provisional disposition against the co filed by WPP 2008 Limited, WPP 2005 Limited, and WPP International Holding B.V
TOKYO U.S. private equity firm Bain Capital has won enough shareholder support to complete its tender offer of Asatsu-DK Inc (ADK) , allowing the Japanese advertising agency to end a bitter two-decade partnership with top shareholder WPP .
* Top shareholder WPP dropped opposition (Adds ADK comments, background)
LONDON, Nov 28 WPP said on Tuesday it was in talks with Ford Motor Company, a major client, about their future partnership after the carmaker said it was considering its internal and external advertising model.
LONDON, Nov 28 WPP said on Tuesday Ford Motor Company, a major client, had informed it of its intention to carry on working with the world's biggest advertising agency for a new period of time beginning in 2018, lifting its shares.
* FORD MOTOR COMPANY VERBALLY INFORMED WPP THAT THEY ARE CONSIDERING THEIR FUTURE INTERNAL AND EXTERNAL MARKETING MODEL
TOKYO/LONDON Britain's WPP agreed on Tuesday to accept Bain Capital's offer for its stake in Japan's Asatsu-DK Inc (ADK) , dropping its threat of litigation after agreeing plans to reinvest in the advertising group at a later date.
* WPP could reinvest in ADK once offer completed (Adds further details)
TOKYO Bain Capital LLC on Tuesday said its $1.35 billion offer for Asatsu-DK Inc (ADK) had been accepted by the Japanese company's 25 percent shareholder WPP, after the parties floated the idea of WPP reinvesting at a later date.
HONG KONG (Reuters Breakingviews) - WPP has rebranded its Tokyo defence. The advertising conglomerate is selling into a $1.4 billion buyout it argued “significantly undervalues” its Japanese partner ADK. That reveals a weaker-than-billed negotiating position. One consolation could be re-investing in the Bain-led deal.