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| Name | Symbol | Market | Type |
|---|---|---|---|
| WPP PLC | NYSE:WPP | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 51.20 | 0 | 01:00:00 |
From May 2019 to May 2024
By Ian Walker
LONDON--Chime Communications PLC (CHW.LN) shares rose 26% in early trade Thursday after the company confirmed it is in advanced talks with Providence Equity Partners LLC and Martin Sorrell's WPP PLC (WPP.LN) over a potential cash offer worth about 370.23 million pounds ($576.8 million).
The international communications and sports marketing group added that an independent committee of the board has been convened and is in discussions with the consortium. However, it cautioned that there is no certainty the consortium will proceed to make an offer for Chime.
At 0730 GMT, shares were 72.5 pence, or 26% higher, at 347 pence.
Any offer would comprise 365 pence per share, plus an interim dividend for the current year of 2.53 pence per share. This price is a 34% premium to Chime's closing share price of 274.5 pence Wednesday.
The U.K. takeover panel has set a deadline of 1600 GMT on Aug. 26 for the consortium to either make an offer or withdraw.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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