Taylor Nelson Sofres PLC
11 July 2003
The following amendment has been made to RNS 4345N released today at 07:00.
Paragraph three should refer to TNS' 2003 full year results and not TNS' 2002
full year results.
For release at 07.00 11 July 2003
TNS completes acquisition of NFO
Taylor Nelson Sofres plc (TNS), a world leader in market information, announces
that it has completed the acquisition of NFO WorldGroup, Inc. (NFO), from The
Interpublic Group of Companies, Inc. (Interpublic).
The acquisition, which was announced on 14 May 2003, consolidates TNS' position
as one of the top three global companies in its industry.
Of the $425m consideration, approximately $400m was paid in cash on completion
and $25m was satisfied by the issue of 11,688,218 new TNS shares to Interpublic
(at the closing price for TNS shares on 13 May 2003 of 133p per share and the
exchange rate on that date of £1:$1.6085). These shares are subject to a
lock-up arrangement, from which 50 per cent will be released on 1 December 2003
and the remainder will be released following the announcement of TNS' 2003 full
year results, expected to be in March 2004. A further $10m may be payable in
cash after July 2004, contingent upon the TNS share price at that time.
Mike Kirkham, Chief Executive of TNS, commented, "We are delighted to have
completed the acquisition of NFO, a high quality company with a strong
management team. This is an important strategic step for TNS. The acquisition
brings to the group for the first time one of the leading US access panels and
reinforces our existing network in North America, Europe and Asia Pacific. It
also increases our competitive advantage by adding depth to sector expertise and
expanding our global key account activities.
"Our integration planning is well advanced and we can now begin to realise the
benefits of the merger, in order to deliver an improved offering to our clients
and to achieve the anticipated cost and revenue synergies."
For further information, please contact:
David Lowden, Finance Director +44 (0)20 8967 4009
Janis Parks, Head of Investor Relations +44 (0)20 8967 1584
Margaret George, Citigate Dewe Rogerson +44 (0)20 7638 9571
Email to: email@example.com
Note to editors
TNS is one of the world's leading market information groups, providing market
measurement, analysis and insight in more than 110 countries. Working with
national and multi-national organisations, the group helps its clients to
develop effective business strategies and enhance relationships with their
customers. On 14 May 2003, it announced the proposed acquisition of NFO
WorldGroup, Inc. Further information on TNS and the acquisition can be found on
This information is provided by RNS
The company news service from the London Stock Exchange