ArrowArtboardCreated with Sketch.Title ChevronCrossEye IconFacebook IconIcon FacebookGoogle Plus IconLayer 1InstagramCreated with Sketch.Linkedin IconIcon LinkedinShapeCreated with Sketch.Icon Mail ContactPath LayerIcon MailMenu BurgerIcon Opinion QuotePositive ArrowIcon PrintRSS IconIcon SearchSite TitleTitle ChevronTwitter IconIcon TwitterYoutube Icon

British ad group WPP to sell stake in Japanese partner to Bain

Deadline for Asatsu-DK deal to be extended to early December

TOKYO -- British media group WPP, the top shareholder of Japanese advertising agency Asatsu-DK, has decided to sell its stake to U.S. private equity company Bain Capital, The Nikkei learned on Tuesday.

WPP, which owns a controlling interest of 25%, had previously indicated it would reject Bain's offer but changed its mind. 

Bain is expected to ask the Kanto Local Finance Bureau to extend the deadline for the takeover bid, currently set for Tuesday, to Dec. 6. This will allow time for the two sides to finalize a deal.

After The Nikkei reported that WPP has agreed to a proposal from ADK management and Bain Capital, ADK shares in afternoon trading rose over 5% from Monday's closing price to recover the tender offer price of 3,660 yen. The initial report came during the Tokyo Stock Exchange's lunch break.


Get unique insights on Asia, the most dynamic market in the world.

Offer ends September 30th

You have {{numberReadArticles}} FREE ARTICLE{{numberReadArticles-plural}} left this month

Subscribe to get unlimited access to all articles.

Get unlimited access
NAR site on phone, device, tablet

{{sentenceStarter}} {{numberReadArticles}} free article{{numberReadArticles-plural}} this month

Stay ahead with our exclusives on Asia; the most dynamic market in the world.

Benefit from in-depth journalism from trusted experts within Asia itself.

Try 3 months for $9

Offer ends September 30th

Your trial period has expired

You need a subscription to...

See all offers and subscribe

Your full access to the Nikkei Asian Review has expired

You need a subscription to:

See all offers
NAR on print phone, device, and tablet media