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Wednesday 27 August, 2008

GfK AG

Offer Talks Terminated

RNS Number : 0858C
GfK AG
27 August 2008
 



 


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION, INCLUDING AUSTRALIA, CANADA, JAPAN AND THE UNITED STATES


FOR IMMEDIATE RELEASE

27 August 2008

GfK Aktiengesellschaft ('GfK')


Termination of discussions regarding a possible offer for Taylor Nelson Sofres plc ('TNS')

Further to the announcement on 1 August confirming that GfK was pursuing an offer for TNS, the Management Board of GfK (the 'Management Board') announces that it has terminated all discussions in relation to financing for a possible offer and that GfK will therefore not be pursuing an offer for TNS. 


The Management Board, after careful consideration, has concluded that the terms of the financing available did not enable a sufficiently compelling alternative cash offer to be made for TNS that was also economically in the best interests of the GfK shareholders.


For the purposes of Rule 2.8 of the Takeover Code (the 'Code'), GfK, or any person who has acted in concert with it or any person who is subsequently acting in concert with either of them, reserves the right to announce or participate in an offer or a possible offer for TNS and/or take any other action which would otherwise be restricted under Rule 2.8 of the Code within six months of today's date if there is a material change of circumstances or with the agreement or recommendation of the board of TNS. 


The Management Board is confident in GfK's prospects for the future and that the company will continue to perform well with strong organic sales growth and order book performance, even in the face of the slow down in the global economy.



This information is provided by RNS
The company news service from the London Stock Exchange
 
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