LONDON (Alliance News) - WPP PLC Thursday said that its data investment management arm Kantar has entered a strategic alliance with comScore Inc in a move that will give the FTSE 100 advertising giant a stake of a potential 19.9% in the US-based internet audience measurement company.
In a statement, WPP said it will take up to a 15.45% stake through a tender at an offer price of USD46.13 per share. comScore will also issue new shares representing 4.45% of its equity in exchange for some of Kantar's European internet audience measurement assets, plus potentially additional new shares, depending on the result of the tender offer.
Through a combination of new shares primary issuance by comScore and the tender offer, WPP will own a total stake in comScore of between 15% and 19.9%. The transaction is subject to customary regulatory approvals and is expected to be completed later in the year.
The alliance covers territories outside the US.
WPP shares were up 0.5% at 1,458.00 pence on Thursday.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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