LONDON (Thomson Financial) - Taylor Nelson Sofres Plc. said it has rejected a further unsolicited pre-conditional cash and shares proposal from rival WPP Group Plc., valuing each TNS share at 260 pence each.
Taylor Nelson said it believes the latest proposal 'substantially undervalues' the company, even on a standalone basis, and that it believes WPP's approaches are an attempt to frustrate its planned nil-premium merger with Germany's GfK AG.
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