A source close to the deal said Sorrell's communications and advertising group is likely to extend its deadline until the end of September, following the European Commission's decision to extend its own investigation into the deal on 3 September. The new EC deadline for a decision on the case is 23 September.
WPP first made an official bid for the market research company on 9 July but extended its 29 August deadline to TNS shareholders after its only bidding rival, German group GfK Holdings, failed to improve its offer.
The board of TNS continues to urge its shareholders to reject the WPP offer, which values the company at around £1.2bn. The bid received just 8.6% of acceptances on 29 August and WPP is set to announce how many acceptances it received before today's cut-off to the market within the next few hours.
TNS reported strong financial results in the first-half of the 2008 and believes the offer significantly undervalues the business.
A successful merger with TNS would make WPP the world's second-largest market research company by revenue after Nielsen.
United Kingdom
WPP set to extend TNS bid deadline again
LONDON - Sir Martin Sorrell's WPP Group is once again set to extend today's deadline to Taylor Nelson Sofres shareholders and continue its hostile takeover approach for a further two weeks.
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