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A Grey WPP

It seems like Grey Global in the future will be a part of the WPP-network. According to Bloomberg.com WPP won the bidding-game of the last of the free networks. WPP beat Havas and a investorgroup formed by Hellman & Friedman, investors in Y&R in the nineties before the agency was sucked up by... WPP.

The transaction details isn't released but since the stockmarket was worth $940/share when Nasdaq closed Friday one can believe that WPP was bidding around $926-930/share.

Read the whole story at Boomberg

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Update
WPP did surprise when bidding $1005 /share.
Ad Age have the rumors.