Havas bid for Tempus gets EU clearance

nullPARIS - Havas Advertising reported this afternoon that the European Competition Commission has given its acquisition of Tempus Group the all clear.

Should it proceed with its bid, it would face no competition bars to acquiring the UK media-planning and buying firm.



In a statement, Havas said, "This decision further illustrates the good fit between the Media Planning Group and Tempus businesses."



Yesterday, Havas extended its 541p-a-share offer for Tempus Group until September 17, following the announcement that it now controls or has received irrevocable undertakings for 29.3% of Tempus.



Havas still faces WPP Group's higher bid of 555p, to which it had been expected to respond with a higher offer.



However, it is now believed Havas might hold out until next week when WPP publishes its offer document.



In another development, it emerged late yesterday in New York that Tempus had suffered a $150m (£104m) blow as Diageo moved its consolidated US beer and spirits business into MediaCom.



Tempus-owned CIA, which previously handled Guinness, lost the business after a final two-way pitch against MediaCom, New York, which handles the former Seagram's business that is being bought by Diageo.




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