WPP announces offer to acquire Concept! in Germany
16 January, 2002
WPP’s wholly-owned operating company, OgilvyOne Worldwide, the direct and interactive marketing network, has today announced its decision to launch an offer to acquire Concept! AG, the German internet agency which is listed on the Neuer Markt of the Frankfurt Stock Exchange.
WPP has an existing 20% stake in Concept! and has announced its intention to acquire the remaining shares at a price of Euro 6.80 per share on the terms and conditions set out in the offer document which is expected to be published in February 2002 at www.kirchhoff.de/ogilvy-concept-angebot.
The offer is subject to approval by the German Federal Cartel Office. The offer continues WPP’s objective of developing its new media investments through strengthening its established businesses.