WPP agrees to Bain tender offer for Japan's ADK
Bain Capital Private Equity’s tender offer for Japan-listed advertising agency Asatsu-DK (ADK) has overcome its biggest obstacle as the company’s largest shareholder WPP Group has withdrawn its objection to the deal.
According to a statement, WPP will sell its 24.9% holding in ADK to Bain for the offer price of JPY3,660, a total consideration of JPY37.8 billion ($337 million). The company also agreed to withdraw the...
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