WPP triumphs in TNS takeover battle

Hong Kong - WPP's long-running battle to buy Taylor Nelson Sofres has come to an end, with the research company accepting its £1.2 billion offer.

WPP announces that as at 3.00 pm (London time) on 8 October 2008, WPP owned 81.78% of the existing shares of TNS.

The offer document stated the offer "is now satisfied" and "has become unconditional as to acceptances."

Prior to the acquisition, TNS urged its shareholders to turn down WPP's $1.2 billion offer, but earlier this week asked shareholders to accepted its deal for $1.2 billion.

"We are delighted to be a step closer to welcoming such a fine company with strong people, clients and brands that will enhance our client offering," Sir Martin Sorrell, chief executive of WPP, said.