WPP, the UK media company run by Sir Martin Sorrell, will appeal against the UK Takeover Panel's ruling that it cannot withdraw its £420m (€672m) offer for Tempus, the UK media buying agency.

WPP and its financial advisers Merrill Lynch and Goldman Sachs had been trying to withdraw the offer, arguing that there has been a material adverse change (MAC) to Tempus' financial position as a result of the attacks in the US, since its offer was launched in August. They will argue this line before a full hearing of the panel next week.