Resistance to Bain Capital’s bid to buy ADK is intensifying, with WPP accusing the Japanese company of having “improperly attempted to terminate its cooperation and business alliance”.
In a new statement, WPP notes that ADK’s sale of its 2.4 percent stake in WPP, which is worth around US$576 million, goes against shareholder advice and would trigger “damaging” tax charges and cancel promised dividends.
WPP’s aggressive statement follows one...
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