Havas has 29% of Tempus behind offer

PARIS - Havas Advertising has announced that its offer for Tempus has been accepted by approximately 24.7% of Tempus shareholders.

In addition, Havas is awaiting acceptances from another 1%. This combines with a further 3.6% of shares in Tempus, which it acquired before its offer for the media-buying company was made.



Following WPP Group's 555p bid yesterday, which came in 3% above Havas's original 541p bid, the company said it was monitoring the situation closely. There was some speculation yesterday that a bid from Havas could be forthcoming as early as today.



This gives Havas valid acceptances, or irrevocable undertakings, for approximately 29.3% of Tempus's issued share capital.



In a statement, the company said its offer will now be extended and remains open for acceptance until September 3 2001, unless extended further.



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