The WPP bid trumped Havas's original 541p offer for the company, which valued Tempus at £425m. The WPP bid values the company at £437m.
A spokesman for Havas said, "We have noted the WPP offer and now we are considering our options." He declined to say what the company's options are or how soon a decision will be made. Sunday Business reported yesterday that Havas is ready to raise its offer to around 570p a share from 541p.
According to reports, a new Havas bid could be forthcoming as soon as tomorrow. Today, Tempus is likely to withdraw its shareholder recommendation for the Havas bid and encourage an auction.
Speaking to the Sunday Times yesterday, Havas chairman Alain de Pouzilhac said, "We've made an offer, a unique offer, and if another should arrive we will react. The important thing is that this is a unique opportunity for Havas and Tempus to create the fourth-largest media network in the world. More than that, we have a perfect geographical fit and the same cultures."