WPP plc increases offer for WPP AUNZ

WPP AUNZ has said entering an arrangement as the next step of the proposed takeover by majority shareholder WPP plc is in the “best interests” of minority shareholders – 75% of whom will need to approve the deal for it to go through – after WPP plc upped its offer from 55 cents to 70 cents per share.

In a note to staff, CEO of the holding group’s local arm, Jens Monsees, addressed the takeover and announced the business’ FY20 and FY21 outlooks, also released to the ASX this morning. He said the takeover could be completed in the first half of next year, but noted the timing depends on a number of factors.

Monsees presenting at the WPP AGM earlier this year