WPP back on acquisition trail after being rudely interrupted

14th Jun 2012 11:36

Acquisitive media conglomerate WPP is to launch a bid for global communications services group Press Index after buying a majority stake in the firm.WPP has acquired 87% of the share capital of Press Index from its founders and other sellers, triggering a requirement to make an offer to buy out the remaining shareholders.WPP will offer €6.81 per share in cash for the shares in the media intelligence and monitoring agency which it does not offer, in a deal which values the whole of Press Index at about €11.2m.The acquisition suggests it is business as usual at the firm after management were given a bloody nose at yesterday's annual general meeting by shareholders protesting at executive remuneration. JH