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Wednesday 02 July, 2008

Takeover Panel

Statement Re: Taylor Nelson S

RNS Number : 2011Y
Takeover Panel
02 July 2008
 

 2008/29

taylor nelson sofres plc ('tns')

WPP GROUP PLC ('WPP')

On 6 May 2008WPP issued an announcement confirminginter alia, that it was considering a possible offer for TNS.

The Panel Executive has ruled that WPP must clarify this statement, for the purposes of Note 1 on Rule 19.3, by 7.30 am on Wednesday 9 July by announcing either a firm intention to make an offer for TNS under Rule 2.5 of the Code or announcing that it does not intend to make an offer for TNS. No extension to this deadline will be granted, except with the consent of the Panel Executive. In the event WPP announces that it does not intend to make an offer for TNSWPP and any person acting in concert with it will, except with the consent of the Panel Executive, be bound by the restrictions contained in Rule 2.8 of the Code for six months from the date of such announcement.

All parties have accepted this ruling.

2 July 2008


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