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Friday preview: WPP, Rentokil
Wed, 07 Jan, 2009
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Friday preview: WPP, Rentokil
Thu, 21 Aug 2008, 17:57:00
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Related Market Prices
Name
Value
Percent
Change
WPP Group
411.50p
-0.90%
Rentokil Initial
46.00p
+1.10%
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Advertising giant <b>WPP</b> is currently embroiled in a takeover battle for <b>Taylor Nelson Sofres</b> (TNS), so will want to put its best foot forward when it publishes its interims this week. <br /><br />The value of its bid for TNS has risen over the last three weeks as the share price of WPP has steadily risen, despite reports earlier this week that Citigroup is placing 26m WPP shares at 486p each on behalf of an institutional client. <br /><br />WPP is offering 173p in cash plus 0.1889 of a WPP share for each TNS share. <br /><br />WPP's proposed takeover has been cleared by the US authorities and the group has moved to circumvent potential objections to the deal from European authorities by agreeing to sell the TV ratings business of TNS to Ipsos Mori for up to £92m should its bid prove successful.<br /><br />Rat-catcher and parcel delivery group <b>Rentokil Initial</b> has issued four profit warnings since December of last year so all of the bad news really should be out there in the market. <br /><br />The conglomerate said last month its internal forecast for full year adjusted pre-tax profit is now £35m lower than at the time of its first quarter trading update. <br /><br />The first signs that management had taken their eye off the ball came at the parcel delivery unit City Link, but the company is making progress in improving service levels in this unit. The malaise seems to have spread to other parts of the business, with trading deteriorating at the textiles & washrooms division.<br /><br /><b>Friday August 22</b> <br /><br />INTERIMS <br />Arriva, Business Control Solutions, Dragon Oil, nCipher, Rentokil Initial, Spectris, WPP Group <br /><br />INTERIM DIVIDEND PAYMENT DATE <br />Domino Printing, Microgen, Terrace Hill <br /><br />QUARTERLY PAYMENT DATE <br />M&G High Income & Growth Units <br /><br />UK ECONOMIC ANNOUNCEMENTS <br />GDP (output, income & expenditure) (09:30) <br /><br />FINAL DIVIDEND PAYMENT DATE <br />Accsys Technologies, Castings, Close Brothers Protected VCT, Edinburgh New Income Trust, FirstGroup, Heath (Samuel) & Sons, ICAP, ILX Group, M&G High Income & Growth Units, MDM Engineering Group, Sutton Harbour, Tangent Communications<br /><br />
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