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WPP AWAITS TEMPUS SHAREHOLDERS' DECISION

By Published on .

NEW YORK (AdAge.com) -- WPP Group learns Oct. 1 whether 90% of Tempus Group's shareholders have accepted WPP's $630 million offer for the U.K. media buying group.

If the required 90% isn't reached, WPP can allow its offer to lapse.

Earlier this week Tempus rushed out its first-half financial results -- showing a drop in pre-tax profits of 3%, or 16% after exceptional items -- to counter a possible attempt by WPP to wriggle out of the deal by citing "material adverse change."

If WPP does acquire Tempus, DaimlerChrysler may object to its European media buying agency CIA Medianetwork being in the same holding company as Ford Motor Co.'s ad agencies.

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