The U.K.'s merger and acquisition overseer, the Takeover Panel, ruled today that WPP Group and its banking firm Hellman & Friedman must decide by noon on November 25 whether they intend to make a bid for London-based Aegis Group, reports AdWeek. The decision came after a "put up or shut up" request from Aegis asking that the panel impose a deadline.
Under its proposal, WPP would add Aegis research arm Synovate, which accounts for about one-third of Aegis's revenue, leaving H&F with the media buying operations.
