Shares of WPP (WPP) are down 1.5% pre-market after the Financial Times reported that Blackstone (BX), Carlyle Group (CG), and Advent International are dropping out of the race to acquire consumer research unit Kantar.
The private equity firms have balked at the high purchase price for Kantar and the threat exerted by technology companies on its business model, the newspaper said, citing sources.
EQT Partners also abandoned its bid for the WPP unit but Bain Capital and Permira have been linked with a potential offer, the Financial Times said.
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