REG - WPP PLC - WPP AUNZ accepts revised proposal from WPP

WPPAnnouncement

17/12/2020 07:01

RNS Number : 9331I
  
WPP PLC
  
17 December 2020
  
 

 



FOR IMMEDIATE RELEASE


17 December 2020



 
WPP PLC ("WPP")
 
WPP AUNZ accepts revised proposal from WPP
 
 
Further to WPP's announcement on 30 November 2020, WPP has submitted a revised proposal to acquire the remaining shares in WPP AUNZ it does not currently own.
 
The revised proposal of A$0.70 per share in cash has been accepted by WPP AUNZ who will seek to enter into a scheme implementation agreement. The revised proposal has been made concurrent with a trading update and outlook statement announced by WPP AUNZ separately today.
 
The revised proposal remains subject to entering into binding documentation and implementation will be conditional on approval by WPP AUNZ shareholders and customary regulatory approvals. The total aggregate consideration payable by WPP for the remaining shares would be approximately A$230m.
 
The proposed acquisition is in line with WPP's global strategy of simplifying its structure and, if implemented, would move WPP to 100% ownership and control of its Australian and New Zealand operations.
 
 
 
Further information 
Chris Wade, WPP           } +44 (0)20 7282 4600 
Peregrine Riviere, WPP  } +44 (0)7909 907193
 
  
About WPP 
WPP is a creative transformation company. We use the power of creativity to build better futures for our people, clients and communities. For more information, visit www.wpp.com.  
 
ENDS
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
  END
 
 
MSCEADAKFLDEFAA