×

Once registered, you can:

  • - Read additional free articles each month
  • - Comment on articles and featured creative work
  • - Get our curated newsletters delivered to your inbox

By registering you agree to our privacy policy, terms & conditions and to receive occasional emails from Ad Age. You may unsubscribe at any time.

Are you a print subscriber? Activate your account.

HAVAS EXTENDS CLOSING DATE ON TEMPUS OFFER

By Published on .

NEW YORK (AdAge.com) -- Havas Advertising is extending the closing date for another week until Sept. 24 on its $600 million offer to buy Tempus Group, the U.K.-based parent company of media planning and buying group CIA.

Despite a higher bid by rival WPP Group of $629 million made Aug. 20, Havas hasn't raised its own offer.

Since making its bid July 29, Havas has only managed to secure commitments for 29.3% of Tempus' stock, including almost 25% held by Tempus management.

WPP owns 25% of Tempus' stock, including a 22% stake built up over the years by WPP CEO Martin Sorrell.

Most Popular
In this article: