Reuters logo
Asatsu-DK says WPP agrees to terminate business alliance
November 2, 2017 / 12:58 AM / 2 months ago

Asatsu-DK says WPP agrees to terminate business alliance

TOKYO, Nov 2 (Reuters) - Japanese advertising agency Asatsu-DK Inc said on Thursday that WPP, its largest shareholder, has agreed to terminate its business alliance with the company.

The decision comes amid a $1.35 billion offer to buy Asatsu-DK from U.S. private equity firm Bain Capital. WPP and other Asatsu-DK shareholders have said the Bain offer significantly undervalues the Japanese company.

Asatsu-DK said last month it wanted to end its alliance with WPP and had asked it to tender its shares in the company to Bain.

Reporting by Junko Fujita; Editing by Edwina Gibbs

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below