WPP Objects to Bain’s Offer for Japan’s Asatsu-DK

10/12/17

WPP, the world’s biggest advertising agency, on Thursday stepped up its efforts to stop U.S. private equity firm Bain Capital from buying Japan’s Asatsu-DK Inc, saying the offer significantly undervalued its stake in the firm.

Bain announced an agreed deal to buy Japan’s third-largest advertising agency this month for $1.35 billion, marking a 15.4 percent premium over the day before it was announced.

However the news triggered a backlash from WPP, which owns a 24.96 percent stake in Asatsu-DK.

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