2.31%C 7.40 5.37%QQQQ 27.81 2.83%
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BERLIN - German market research company GfK AG said Wednesday that it has abandoned the idea of making an offer for British rival Taylor Nelson Sofres PLC after concluding that it was unable to make a "sufficiently compelling" bid.
| WPPGY | 23.78 |  -1.71 |
GfK said it was considering an all-cash offer for TNS after advertising firm WPP Group PLC last month took a 1.08 billion pound (nearly $2 billion) hostile bid for the company direct to shareholders.
WPP's move prompted GfK to call off a previously announced deal to combine with TNS.
GfK said Wednesday that it has now "terminated all discussions in relation to financing for a possible offer and that GfK will therefore not be pursuing an offer for TNS."
GfK said its management board "after careful consideration, has concluded that the terms of the financing available did not enable a sufficiently compelling alternative cash offer to be made for TNS that was also economically in the best interests of the GfK shareholders."
U.S. stocks were mixed on Thursday after retailers reported mostly disappointing sales while other big-name companies announced layoffs and Europ...
China markets opened lower on Tuesday morning as the investors' confidence hit by the signals that global recession are deepening.
The markets have spoken: risk aversion is still the name of the game and that was obvious since the beginning of the week.
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