OgilvyOne secures Concept! AG
11 April, 2002
OgilvyOne worldwide GmbH & Co. KG, Frankfurt am Main, a subsidiary of WPP Group plc (Nasdaq: WPPGY, London Stock Exchange: WPP), reports that its public takeover offer to the shareholders of Concept! AG (Securities Identification No. 528 780) has been accepted in respect of a total of 3,357,430 Concept! shares during the acceptance period which finally ended on April 10, 2002, 12.00 midnight.
This represents 26.06% of the registered share capital and voting rights of Concept! AG. Together with the shares held by OgilvyOne and other WPP subsidiaries at the time of the launch of the takeover offer and the shares that have been acquired from Concept! AG’s principal shareholder Volker Tietgens on the basis of a share purchase agreement dated Jan. 15, 2002, approximately 94.98% of the registered share capital and voting rights of Concept! AG are now attributable to OgilvyOne.
The purchase offer aimed at acquiring control over Concept! AG has thus been successfully completed. OgilvyOne had announced the takeover offer on Jan. 16, 2002 and had published it on Feb. 23, 2002. The purchase price offered by OgilvyOne amounted to € 6.80 in cash per Concept! share.