WPP and Providence in talks on Chime deal

Chime Communications, the London-listed sports marketing specialist, is in advanced discussions to sell itself for more than £350m to Sir Martin Sorrell’s WPP and US buyout group Providence Equity Partners.Chime said that an independent committee of board members had been convened to discuss a cash offer for all its shares at 365p per share. That would represent a premium of more than 30 per cent to the company’s closing share price on Wednesday of 274.5p.

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