WPP Declines KKR’s Offer to Acquire Majority Stake in FGS Global
WPP has turned down a proposal from private equity firm KKR to purchase a majority stake in FGS Global, its public relations subsidiary, according to reports from various media outlets.
Had the bid been accepted, KKR would have gained majority ownership of FGS Global.
Reports indicate that KKR’s offer exceeded the valuation of FGS Global at the time of the equity firm’s initial investment in 2023, but it was ultimately rejected on grounds of being undervalued.
FGS Global, headquartered in New York, is described on its official website as an advisory and communications consultancy boasting a team of over 1,200 experts.
The company was established through the merger of consultancy firms Finsbury Glover Hering and Sard Verbinnen.
