Merrill Lynch and Goldman Sachs will be spending the next two weeks trying to help WPP, the UK advertising group, pull out of its bid for Tempus which went unconditional after 93.9% of shareholders voted to accept the offer.

WPP has been trying to find a way out of its 555p (€8.96) offer for Tempus since the UK company's share price, and other media stocks, tumbled in the wake of the US terrorist attacks and the fear of recession. Although the offer went unconditional following the 93.9% acceptance rate from Tempus shareholders on October 1, the first closing date for acceptances, WPP believes that its offer remains subject to conditions including a material adverse change clause and relevant competition authority approval.