Source - LSE Regulatory
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
Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account.