Court approves WPP shareholder meeting on takeover bid

The New South Wales Supreme Court has approved a WPP AUNZ shareholder meeting on 21 April to consider and vote on WPP plc’s takeover bid.

In addition, a PricewaterhouseCoopers report has concluded the takeover is fair and reasonable, and in the best interests of WPP AUNZ minority shareholders. According to the report, the market value of a WPP AUNZ share sits between $0.62 and $0.80; WPP plc upped its offer from $0.55 to $0.70 per share in December.

WPP AUNZ CEO Jens Monsees