By Tony Connelly

British marketing group Chime Communications has received a £350m takeover bid from Providence Equity Partners and rival WPP.

The company, which has Lord Coe as a director, confirmed the joint bid approach on Wednesday night. The bid consists of 365p per share, plus an interim dividend for the current year of 2.53p per share.

Chime’s board has recommended an offer for the company to be made to the London Stock Exchange today.

The London-based company, which was founded by Margaret Thatcher’s former PR guru Lord Bell, confirmed that an “independent committee of the board of Chime has been convened who are engaged in Read full story ›

Source: The Drum