Reports suggest that Havas has held early discussions regarding WPP, the parent company of PR firm Burson. Sources indicate the group may explore acquiring WPP Media or potentially building a significant stake to secure a board seat.
Meanwhile, The Times notes that private equity firms Apollo and KKR have examined parts of WPP’s business. However, insiders downplayed the likelihood of either firm pursuing a full takeover. Apollo, which reviewed the company last year, clarified it is not considering a bid, while KKR declined to comment.
The speculation comes during a challenging period for WPP, whose stock fell 16% in late October its lowest in 27 years after missing quarterly forecasts. CEO Cindy Rose acknowledged the performance as “unacceptable” and confirmed steps are being taken to address it. The company has also appointed McKinsey to support its ongoing strategy review.
Adding to the market activity, Rose and WPP chair Philip Jansen recently purchased 100,000 shares for roughly £287,000 to reinforce investor confidence. UK regulations bar such buybacks if a company is in formal merger or takeover talks.