NFO Bid Heats Up

According to reports from Reuters, at least three active bidders remain in the auction to buy Interpublic Group's NFO market research unit after submitting offers of up to $550 million, and the winner is likely to be determined by who can get financing.

The bidders still in the running to buy NFO WorldGroup include the Aegis Group, Taylor Nelson Sofres and Ipsos. The bids are believed to range from $450 million to $550 million.

Other reports suggest that a fourth suitor, United Business Media has also placed a bid, but it is unclear if the UK-based publishing and business services company has been invited to the next round.

WPP Group which had expressed serious interest in NFO earlier on has now dropped out of the race after bidding between $350 million to $400 million during the initial round.

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.

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