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WPP

WPP

$60.20

-0.21 (-0.35%)

06:11
07/12/19
07/12
06:11
07/12/19
06:11

WPP to sell 60% stake in Kantar to Bain Capital

WPP said it plans to sell a 60% stake in Kantar to Bain Capital. The investment by Bain Capital Private Equity values Kantar at c.$4bn; WPP said its leverage target to be met a year ahead of plan; c.GBP 1.0bn shareholder return planned. Proceeds to WPP on completion after tax and continuing investment in Kantar expected to be c.$3.1bn , WPP said. WPP to retain c.60% of net proceeds to reduce debt to the low end of the target leverage range of 1.5 - 1.75x average net debt/EBITDA3 for 2020. Impact of proposed transaction and use of proceeds expected to be marginally dilutive to headline EPS in 2021. Completion and associated proceeds relating to no less than 86% of Kantar expected in early 2020, subject to approval by WPP shareholders and other customary regulatory and legal approvals. Mark Read, CEO, WPP, said: "Kantar is a great business and we look forward to working with Bain Capital to unlock its full potential. As a strategic partner and shareholder in Kantar, WPP will continue to benefit from its future growth while our clients continue to benefit from its services and capabilities."

WPP WPP
$60.20

-0.21 (-0.35%)

10/25/18
PIVT
10/25/18
UPGRADE
PIVT
Buy
WPP upgraded to Buy from Hold at Pivotal Research
Pivotal Research analyst Brian Wieser upgraded WPP to Buy while lowering his price target for the shares to 1030p from 1060p. The analyst sees a "compelling value" with today's 20% stock decline following the company's "weak" Q3 results and 2018 outlook.
12/13/18
BOFA
12/13/18
UPGRADE
BOFA
Neutral
WPP upgraded to Neutral from Underperform at BofA/Merrill
BofA/Merrill analyst Adrien de Saint Hilaire upgraded WPP to Neutral citing valuation and reduced topline risks.
04/01/19
DBAB
04/01/19
UPGRADE
DBAB
Buy
WPP upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank upgraded WPP to Buy from Hold saying the stock "looks too cheap." Just delivering on guidance will be enough to re-rate shares higher given the current low expectations, Deutsche Bank says in a research note.
04/29/19
LEHM
04/29/19
UPGRADE
LEHM
Overweight
WPP upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Julien Roch upgraded WPP to Overweight from Equal Weight and raised his price target for the shares to 11 pounds from 10 pounds. The company's organic growth is "good enough" and not getting worse, while the Kantar disposal is a catalyst, Roch tells investors in a research note. He has confidence in management's turnaround strategy and views WPP's current valuation as cheap.

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ATEC

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McDonald's

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APRN

Blue Apron

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4.81 (62.88%)

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AAPL

Apple

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Spotify

$154.63

0.35 (0.23%)

13:59
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Periodicals
Apple to fund original podcasts in challenge to Spotify, Bloomberg says »

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TSLA

Tesla

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CARS

Cars.com

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Options
Cars.com put volume heavy and directionally bearish »

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Bank of America

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Abbott

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Earnings
Notable companies reporting before tomorrow's open »

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PNC Financial

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Progressive

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BNY Mellon

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Omnicom

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Textron

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Comerica

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CSX

CSX

$79.79

1.27 (1.62%)

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Cintas

$243.78

0.47 (0.19%)

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CSX

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UAL

United Continental

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GLYC

GlycoMimetics

$12.62

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GlycoMimetics call volume above normal and directionally bullish »

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FUN

Cedar Fair

$50.85

0.4 (0.79%)

13:25
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TM

Toyota

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HYG

iShares iBoxx $ High Yield Corporate Bond

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Put roll in High Yield Bond ETF re-rolls protective position »

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JNJ

Johnson & Johnson

$132.96

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EA

Electronic Arts

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Electronic Arts analyst commentary at Stephens »

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NYSE Market Internals

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Fed Chair Powell reiterated the Fed will "act as appropriate to sustain the expansion," »

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EA

Electronic Arts

$89.04

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