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WPP shares leap amid takeover bid speculation

about 11 hours ago
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Shares in WPP have risen sharply amid speculation that the advertising group could be the subject of a takeover by a rival or a private equity buyer.Its French rival Havas, which was listed on Euronext in Amsterdam in December and is controlled by the billionaire Vincent Bolloré, has reportedly held internal talks about a potential bid as WPP’s share price languishes at levels not seen since the mid-1990s.The company’s shares rose 11% on Monday, making it the biggest riser on the FTSE, after the Sunday Times report, which also suggested private equity groups Apollo and KKR had held internal discussions about certain WPP assets.However, Apollo has ruled out making a bid.KKR, which last year acquired WPP’s PR operation FGS Global, declined to comment.

Havas, the smallest of the global advertising holding companies, has previously hoped to build scale, particularly in relation to its media buying and selling capability.Over a number of years Bolloré built up a stake in the UK media buying firm Aegis, and attempted to get seats on the board, but the Japanese advertising group Dentsu paid £3.2bn to buy the company in 2012.One source suggested Havas could look to follow a similar strategy with WPP, building a stake before demanding a board seat.Havas declined to comment.

WPP, which has issued a string of profit warnings amid a client exodus and is struggling to compete with the artificial intelligence and data capabilities of its rivals, is now valued at about £3bn.The business’s market capitalisation has fallen by more than 80% over the past eight years – it was valued at £25bn in 2017 – which has left WPP at risk of falling out of the FTSE 100 index it joined almost three decades ago.Last month, Cindy Rose, the newly installed WPP chief executive, launched a review of the business after reporting a fresh profit warning.Earlier this year Accenture, the US consultancy group that has built up a large advertising business, reportedly held talks with WPP over a potential deal or partnership.Sign up to Business TodayGet set for the working day – we'll point you to all the business news and analysis you need every morningafter newsletter promotionWPP Media, which manages more than $60bn (£46bn) of global media investment in campaigns for clients, is considered by analysts to be the most valuable part of WPP.

The division has been the revenue and profit driver as other operations such as WPP’s creative agencies have struggled.It is considered to be worth more than the approximate £7.5bn enterprise value of WPP, which includes its debt.France’s Publicis Groupe, which took WPP’s crown as the biggest ad group in the world by revenue last year, would face considerable regulatory challenges if it was to target WPP.The speculation surrounding the future of WPP comes as a wave of consolidation sweeps through the global advertising market.

The US group Omnicom is in the midst of closing out a $13.5bn takeover of its rival IPG, which will create the largest advertising holding company in the world.Dentsu, the world’s fifth largest ad group, is exploring a sale of all of its international businesses.
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Scott Boland seeks to inspire next generation as Indigenous history beckons in Ashes opener

Scott Boland expects Brendan Doggett to help inspire a new generation of Indigenous cricketers, as a slice of history beckons for the duo when the Australia XI is named for the Ashes opener in Perth.The fast bowlers are on the verge of shattering the glass ceiling and becoming the first pair of Indigenous cricketers to be included in the same Australia side as spots open up with Josh Hazlewood joining injured captain Pat Cummins on the sidelines.Only two of Australia’s 471 men’s Test players are Indigenous – former fast bowler Jason Gillespie and Boland – with Doggett poised to join the all-too exclusive club.Boland backed Doggett – whose Indigenous heritage traces back on his mother’s side to the Worimi people from around Newcastle – to make an impact on more than just the Ashes if he is selected to face England in the first Test starting on 21 November.“Hopefully Brendan does get the nod and that happens,” Boland said on Monday about the prospect of two Indigenous players being selected in the same Australia side

about 9 hours ago
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Mind guru Gilbert Enoka: ‘England are about to go to war, and I want to be in the trench with them’

“We’ve got a smooth lake at the moment,” Gilbert Enoka says, relaxing in the bar of England’s team hotel in Perth a few days before the battle for the Ashes gets under way. “But the series is going to start and then there’s going to be really, really choppy water in terms of what we actually have to sail. All I want is to help the guys develop structures that can help them be reliable when those waves come.”Enoka is the mental skills coach most famous for instigating a “no dickheads” policy during his 21 years in the All Blacks dressing room, and a man whose path to the pinnacle of team sport is as remarkable as the impact he has had since getting there. He spent much of his childhood in an orphanage before moving back in with his mother, who had settled with a new partner Enoka describes as “alcoholic, dysfunctional”

about 9 hours ago
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Anthony Joshua will ‘break internet over Jake Paul’s face’ as fight is confirmed

Anthony Joshua and Jake Paul will face each other in a heavyweight fight in Miami on 19 December, it has been confirmed.Rumours of the fight between Paul, a YouTuber-turned-boxer, and Joshua, the British former heavyweight champion of the world, had been trailed earlier this month and Paul’s company, Most Valuable Promotions, confirmed the news on Monday. The fight will be shown live on Netflix.“This isn’t an AI simulation. This is Judgment Day,” said Paul

about 9 hours ago
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Australia target Joe Root as the England batter to ‘take down’ on eve of Ashes

Scott Boland has flagged Joe Root as the England batter to “take down” this Ashes series as Pat Cummins stepped up his return from a back injury with an encouraging net session at Perth Stadium.England were handed a day off on Monday after their warm-up fixture at Lilac Hill, as Australia’s players began their preparations after flying in 24 hours earlier. A green-tinged pitch was being watered out in the middle as temperatures hit 33C inside the ground.Boland, scourge of England on their previous tour here four years ago, was already the seamer chosen to replace Cummins in the Australian XI, with a further hamstring injury to Josh Hazlewood likely to result in South Australia’s Brendan Doggett being handed a debut this week.Asked about the tourist he was targeting, the soft-spoken Boland plumped for the obvious answer

about 12 hours ago
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England to launch first Nations Championship campaign with visit to South Africa

England will begin their inaugural Nations Championship campaign next summer by travelling to South Africa to lock horns with the two-times defending world champions.As revealed by the Guardian in June, Steve Borthwick’s side, who are not playing the Springboks this autumn, also face fixtures against Fiji and Argentina next summer.England last toured South Africa in 2018 and next year’s clash – likely to be at Ellis Park in Johannesburg – will be only the second meeting between the two sides since the 2023 World Cup semi-final.The game with Fiji is also set to take place in South Africa in an attempt to minimise travel, as per tournament protocols. Fiji had wanted to play the match in Europe, either in France or at Twickenham, but the expectation is England’s first two matches will be in South Africa before they return to Argentina, having played two Tests there last summer

about 13 hours ago
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Déjà boo: Sam Darnold didn’t think he’d see ghosts on the field again. Then he faced the Rams

The Seahawks quarterback has looked like an MVP this season. But his old failings returned in Los Angeles on SundayThe biggest game of Week 11 was undoubtedly the matchup between the Los Angeles Rams and the Seattle Seahawks. Both teams came in with 7-2 records, and were seemingly evenly matched on both sides of the ball, with dynamic offenses and stingy defenses. In the end, it was a defensive battle that the Rams won, 21-19, by the skin of their teeth.Seahawks quarterback Sam Darnold, who had played at a near-MVP level this season for the most part, did absolutely nothing to help his team – and plenty to hurt them

about 14 hours ago
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Father of teen whose death was linked to social media has ‘lost faith’ in Ofcom

3 days ago
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Personal details of Tate galleries job applicants leaked online

3 days ago
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AI firm claims it stopped Chinese state-sponsored cyber-attack campaign

3 days ago
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People in the UK: have you received good or bad financial advice from an AI chatbot?

3 days ago
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AI slop tops Billboard and Spotify charts as synthetic music spreads

4 days ago
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UK firms can win a significant chunk of the AI chip market | John Browne

4 days ago