UK - GfK seeks support from Apax for TNS bid

nicola
06 August 2008

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German market researcher GfK has held talks with Apax Partners to gain funding for its bid for research group Taylor Nelson Sofres (TNS).

GfK is attempting to raise additional financing to trump the £1.1bn bid made by WPP, a marketing services company. It is now believed that the parties rumoured to have been interested - namely Cinven, KKR and Permira - are not involved. TNS' board had rejected WPP's offer, which falls below the group's market value of about £1.12bn.

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