euro adhoc: GfK AG
Mergers - Acquisitions - Takeovers
Termination of
discussions regarding a possible offer for Taylor Nelson Sofres plc ("TNS")
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Company Information/Merger GfK TNS
27.08.2008
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION, INCLUDING AUSTRALIA, CANADA, JAPAN AND THE UNITED STATES
FOR IMMEDIATE RELEASE
27 August 2008
GfK Aktiengesellschaft ("GfK")Termination of discussions regarding a possible offer for Taylor
Nelson Sofres plc ("TNS")Further to the announcement on 1 August confirming that GfK was pursuing an offer for TNS, the Management Board of GfK (the "Management Board") announces that it has terminated all discussions in relation to financing for a possible offer and that GfK will therefore not be pursuing an offer for TNS.
The Management Board, after careful consideration, has concluded that the terms of the financing available did not enable a sufficiently compelling alternative cash offer to be made for TNS that was also economically in the best interests of the GfK shareholders.
For the purposes of Rule 2.8 of the Takeover Code (the "Code"), GfK, or any person who has acted in concert with it or any person who is subsequently acting in concert with either of them, reserves the right to announce or participate in an offer or a possible offer for TNS and/or take any other action which would otherwise be restricted under Rule 2.8 of the Code within six months of today's date if there is a material change of circumstances or with the agreement or recommendation of the board of TNS.
The Management Board is confident in GfK's prospects for the future and that the company will continue to perform well with strong organic sales growth and order book performance, even in the face of the slow down in the global economy.
end of announcement euro adhoc
Further inquiry note:
Jörg Peters
Tel.: +49 (0)911 395 2012
E-Mail: joerg.peters@gfk.com
Branche: Consultancy Services
ISIN: DE0005875306
WKN: 587530
Index: SDAX
Börsen: Börse Frankfurt / regulated dealing/prime standard