WPP: in exclusive talks to sell Kantar
(CercleFinance.com) - WPP confirmed on Tuesday that it has entered into exclusive discussions with Bain Capital to sell its majority stake in market research firm Kantar, based on a headline enterprise value of approximately 4 billion dollars.
Analysts said this is "positive news" for the British media agency.
"The announcement should be taken well - the price looks in line with expectations, the naming of a specific suitor and that the company is in exclusive talks should give confidence in the transaction's completion and the closing of the deal will allow WPP to significantly reduce its debt," Liberum said, reiterating its "buy" rating on the share.
Yet, WPP shares were trading 1% lower this morning in London, at 1,001.5 pence. Note that they have risen by over 25% from their low reached at the end of March.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Analysts said this is "positive news" for the British media agency.
"The announcement should be taken well - the price looks in line with expectations, the naming of a specific suitor and that the company is in exclusive talks should give confidence in the transaction's completion and the closing of the deal will allow WPP to significantly reduce its debt," Liberum said, reiterating its "buy" rating on the share.
Yet, WPP shares were trading 1% lower this morning in London, at 1,001.5 pence. Note that they have risen by over 25% from their low reached at the end of March.
Copyright (c) 2019 CercleFinance.com. All rights reserved.