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Media Lifeline: TNS takeover battle.

Campaign

| September 05, 2008 | COPYRIGHT 2008 Haymarket Business Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

How this bitter takeover saga began - and why it still hasn't reached any sort of resolution.

July 2006: Rumours emerge that the market research company Taylor Nelson Sofres is in the sights of a number of private equity companies. Its share price was down after a profits warning and US turnover sliding on the loss of the IBM account, piling pressure on Donald Brydon, the chairman, and David Lowden, the chief executive, to improve fortunes WPP and the German research company GfK are named as potential suitors but no offers emerge, until ...

April 2008: The boards of TNS and GfK announce that they are in merger discussions. The proposed deal would create the second-largest market information group in the world, to be named GfK-TNS. The largest shareholder would be GfK Verein, with Lowden telling the City that 'the market has long seen these two companies as ideal partners, and now is the right time to bring them together'.

May 2008: TNS shares leap after WPP makes a pounds 948 million counter-offer. Sir Martin Sorrell, the chief executive of WPP, says he is disappointed that attempts to engage with the management of TNS have been 'hindered and resisted'.

May 2008: Klaus Wubbenhorst, the chief executive of the market research company GfK, ...

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