WPP secures agreement for Kantar to acquire Press Index
FRANCE— WPP has confirmed it has entered into binding agreements to acquire 87% of the share capital of media intelligence and monitoring firm Press Index. Once the deal is complete, the agency will form part of WPP’s Kantar network.
The deal, first announced last month, is priced at €6.81 per share, valuing Press Index at €11.2m.
WPP noted that on completion Kantar will file with the French market authority a cash-simplified public tender offer to purchase the outstanding shares of Press Index for the same price per share.
The company said that if, at the end of the public tender offer, the non-tendered shares held by minority shareholders represent less than 5% of the share capital and voting rights of Press Index, Kantar plans to implement a squeeze-out procedure.