Chime Communications confirms bid talks with WPP and Providence

(ShareCast News) - Chime Communications shares rang up a sharp gain on Thursday after confirming it was in "advanced discussions" with media giant WPP and Providence Equity Partner about a takeover at 365p a share.The public relations group said the potential cash offer also would include an interim dividend for the current year of 2.53p per share.The company said an independent committee of the board has been convened to engage in discussions with the FTSE 100 company and the US private equity firm."There can be no certainty that the consortium will proceed to make an offer for Chime," it added, promising that a further announcement will be made in due course.UK stock market rules require by not later than 1700 BST on 26 August that a firm intention to make an offer must be made.Shares in Chime were up 27% to 346.75p at 1059 BST on Thursday.