LONDON (ShareCast) - (Sharecast News) - Shares in WPP surged on Tuesday after markets blog Betaville suggested the advertising firm was the subject of a renewed round of takeover rumours.
Betaville said people following the situation have heard fresh speculation that WPP has attracted takeover interest during the strategy review being carried out by new chief executive Cindy Rose.

Betaville said in an 'uncooked alert' that it was unclear which company is circling WPP, whose shares have fallen 64% this year following profit warnings, but reports in the past have suggested several companies and private equity firms have looked at buying the group.

It noted that in 2012, Warren Buffett's Berkshire Hathaway was reported to have made an 925p a share offer for WPP. In 2017, meanwhile, Betaville Intelligence reported that French consultancy firm Accenture may have been looking at buying WPP.

More recently in 2023 a column in City AM by Sky News City Editor Mark Kleinman suggested US buyout firm Blackstone was interested in buying the whole business.

Betaville said some people following the situation suggested the predator eyeing WPP this time round may also be a private equity firm.

Betaville defines an 'uncooked alert' as 'market gossip' as it receives it.

In its description, it says: "This scuttlebutt has just come in and hasn't been checked with all of Betaville's well-informed RARE sources let alone formal journalistic channels (public relations executives, bankers etc).

"The rumour might be total codswallop, nonsense or rubbish - but then again there may be something in it, so it's worth airing on Betaville."

At 1440 GMT, WPP shares were up 4.4% at 299.40p.

Traders also suggested the share price jump could be down to news that WPP has engaged McKinsey & Company to advise on a comprehensive strategy overhaul.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE