WPP has shortlisted four potential offers for a majority stake in its research arm Kantar, according to a Reuters report that cited four unnamed sources familiar with the situation.
According to the report, private-equity firms Bain Capital, Apollo and Platinum are all in contention, along with a fourth unidentified bidder.
Kantar has been valued at about $4.5 billion and WPP has said it intends to retain a minority stake in the unit.
Earlier this year, company CEO Mark Read told analysts the company expects to announce a deal for Kantar by the end of the second quarter.
The sale is part of a streamlining process ongoing at the holding company.
Read has said the firm concluded the best way to realize Kantar’s full potential, given all of the company’s priorities, was to bring in a financial and strategic partner to take control.
Reuters reported the four finalists made presentations earlier this week. WPP retained Goldman Sachs to manage the bidding process.
WPP declined to comment.