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WPP Squaring Up To Buy Chime Communications

Chime Communications, the British marketing group that counts Lord Coe as a director, is set to be bought by Providence Equity Partners and rival WPP for more than GBP350m. London-based Chime, which was founded by Margaret Thatcher’s former PR guru Lord Bell, has received an offer of 365p per share, plus an interim dividend for the current year of 2.53p per share, the company said on Wednesday night. The bid is a 33% premium to Chime's closing price of 274.5p on Wednesday.

Read the whole story at The Telegraph »

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