WPP declares TNS offer final, will not raise bid

LONDON (Reuters) - Advertising group WPP (WPP.L) said its offer for market researcher Taylor Nelson Sofres TNS.L was final and would not be increased.

WPP, the world's second-biggest advertising and marketing group, has made a 1.2 billion pound hostile bid for the market research group and on Monday extended its offer until October 3, saying at the time it had received acceptances from 43 percent of TNS investors.

A combination of TNS with WPP's market-research units would create the world's second-biggest market-research group after privately held Nielsen.

WPP has offered 173 pence in cash and 0.1889 of a new WPP share for every TNS share, a deal worth 259.2 pence based on Wednesday's closing price, the company said.

On Monday WPP also confirmed a planned domicile move to Ireland from Britain because of the "complexity" of the current tax system. WPP will still report in British pounds.

The decision to shift the group's official headquarters is a blow for the government, particularly as WPP Chief Executive Sorrell has acted as an ambassador for British business.

Earlier this year, drugmaker Shire (SHP.L) and media group United Business Media (UBM.L) also both decided to shift their tax domiciles from Britain to Ireland because of planned tax changes on foreign earnings.

(Reporting by Dan Lalor; Editing by Greg Mahlich)