TNS Founder Prefers WPP Over GfK, Sorrell Undecided On Outcome
Not that Liz Nelson will have much say over the matter anymore, but the co-founder of market research firm Taylor Nelson Sofres has spoken out against its proposed merger with GfK, which is seen as either a blocking tactic or an invitation for a higher bid from Sir Martin Sorrell’s WPP group.
SEE ALSO: Despite Continued Rejection, TNS Opens Books To WPP
Nelson told Research Magaine (via FT) WPP’s bid would be “more innovative, more imaginative, more client-oriented than a merger of TNS and GfK”: “My first impression was that the men in grey suits are winning out. This is the accountants at work. It isn’t the best thing for a market research company.” But she is now exec chairman at Q Research.
What will Sorrell do next? “There’s a 30 per cent probability we walk; a 30 per cent probability we stay; a 30 per cent probability we might go up and a 10 per cent chance we go hostile,” he told FT.
TNS and GfK agreed a nil-premium 50-50 merger that would create the world’s second largest market research outfit after Nielsen, though TNS this week also opened its books to WPP.
Posted In: Advertising, Money, M&A & Venture Capital, Mergers & Acquisitions, Companies, WPP
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