WPP in trading halt

Chris Pash
By Chris Pash | 16 December 2020
Thinkstock

WPP AUNZ has gone into a trading halt as it holds talks with majority shareholder WPP plc on its takeover proposal.

The Australian company told the ASX it is in "discussions" on WPP’s proposal to acquire all of the shares in WPP AUNZ.

WPP plc, the world's biggest advertising company based in the UK, last month announced it wanted to take full control of its Australian subsidiary.

Minority shareholders are being offered $0.55 a share. They last traded at $0.57.

WPP currently has 61.5% of the ASX-listed WPP AUNZ.  

 

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