Report Says WPP May Raise Ogilvy Bid:...

Report Says WPP May Raise Ogilvy Bid: WPP Group, the British advertising agency, has told Ogilvy Group Inc. that it is willing to raise its $725-million offer for the U.S. ad agency, Wall Street sources said. Reuters reported that the sources said WPP has informed Ogilvy, parent of Ogilvy & Mather, that it might raise its offer to as high as $50 a share, or more than $800 million, from $45 a share. Officials for WPP in London and for Ogilvy in New York could not be reached immediately for comment. Speculation is widespread that Ogilvy has also been approached by several buyout groups, among them Wesray Capital Corp. and Kohlberg Kravis Roberts & Co.