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Business

Japan's ADK sees freedom from UK partner in Bain offer

Delisting would let agency spread wings, adapt to rapidly digitizing market

TOKYO -- Japan's No. 3 advertising agency Asatsu-DK said Monday it aims to break free from its partnership with U.K. ad giant WPP Group via a tender offer from U.S. private equity firm Bain Capital, freeing itself to adapt to the industry's rapid digitization.

Tokyo-based ADK hadn't reached an agreement with U.K. partner WPP Group before the announcement. It proposed dissolving the partnership Monday and asked the British powerhouse to sell the roughly 25% of ADK shares it held.

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