Analysts were predicting that WPP would be looking for a way out of the deal. Following Havas' withdrawal of its 541p bid in last week's market turmoil, Tempus quickly accepted WPP's 555p offer.
WPP is now thought to be hoping it does not get the 90% acceptances it needs to see its acquisition go forward, otherwise it will be forced to go through with the deal.
Given the dire market conditions, it is likely that it will get 90% acceptances as investors will now be rushing to sell Tempus stock.
On Friday Tempus shares fell 24% to 420p, having opened the day at 552.5p. This morning they opened unchanged. WPP was down 2.5% to 474.5p on Friday and today is trading slightly up at 508p.
WPP Group CEO Sir Martin Sorrell may now have to pay the price for launching a hostile counter-bid to break up Havas's agreed takeover of Tempus.
On Friday Alain de Pouzilhac, chairman and CEO of Havas, said, "We must not go through with this bid, now that a recession is more and more likely. It would be unwise. We have a duty both to our shareholders and to our employees who have placed their confidence in us. To make a higher bid would be unreasonable in an environment which is getting worse by the day and which has been hit even harder by the recent terrible events in America."
Analysts estimate that if Havas's original July 19 bid had not sent Tempus soaring from 360p to 560p, it would this week be trading at around 150p.
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