Hostile bids are enjoying an unprecedented 28.6% success rate so far this year, according to FactSet MergerMetrics. One more hostile takeover will likely bump up that stat. With one day to go, advertising company WPP Group plc Thursday looked likely to triumph with its £1.2 billion ($2.14 billion) hostile offer for Taylor Nelson Sofres plc.
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A successful offer would cap WPP CEO Martin Sorrell's five-month campaign to win the business, which began shortly after Taylor Nelson announced plans to merge with market research peer GfK AG of Nuremberg, Germany, at the end of April.
Sorrell wants to boost WPP's Kantar market research division to create a close rival to world market leader Nielsen Co. of New York. WPP of London launched its bid for Taylor Nelson in July after its target had rejected two lower approaches. GfK responded by attempting to repackage its nil-premium tie-up with Taylor Nelson as a takeover but failed to secure financing and withdrew in August. - Neil Sen
