And why the advertising industry should be optimistic about it.
A saga that began in October has reached its conclusion.
Bain Capital is apparently closer to taking control of Japan's third-largest advertising agency, ending a 20-year partnership with WPP.
As the tender offer nears its expiry date, WPP is working harder to get fellow ADK shareholders on its side.
MD's comments suggest more agencies could become targets for private-equity firms.
WPP has filed for arbitration in Japan in an increasingly bitter dispute.
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