United announced today that it had appointed Dresdner Kleinwort Wasserstein and Allen & Company to "examine a number of alternatives to maximise the value of NOP World for UBM shareholders".
The review is looking at three options, according to United. These are: "developing NOP World further; expanding NOP World through strategic alliances; or a sale".
Brand Republic reported on January 17 that Lord Hollick could be set to sell NOP for £250m before he stands down as chief executive in May, when he will be replaced by David Levin, chief executive at Symbian.
NOP is best known in the UK for its political polling work and it has long partnered with the BBC and the Labour Party. It recently, along with rival Mori, signed a deal with the BBC and ITV News to do a joint exit poll for the next general election to minimise the risk of calling the wrong result.
Interest in United's market research business is likely to be high. The field is increasingly seen as one where holding companies can add margin and value to clients.
Bidders are likely to include the likes of Taylor Nelson Sofres, Aegis, WPP Group from the UK and French firm Ipsos.
Two years ago, these firms all took part in the battle to win control of Interpublic Group's NFO WorldGroup, which eventually went to TNS for around £264m. United Business Media had also been in the early running for NFO.
NOP World would be a prize for any group. It is one of the world's top 10 market research firms, with brands including NOP Research Group, Strategic Marketing Corporation, Mediamark Research Inc, Roper/ASW, Market Measures/Cozint and Allison Fisher.
A report in the Mail on Sunday in January suggested that the sell-off has been prompted by Levin's arrival. He is said to be less enthusiastic about market research than Lord Hollick, who helped build NOP into one of the world's top firms.
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