Contractors should negotiate over IR35

Posted on 3 June 2008

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Rival firms Gfk and Taylor Nelson Sofres are to merge, forming the world's second largest market research group.

Two market research giants are two merge, forming the world's second largest industry group.

German firm GfK will join forces with Taylor Nelson Sofres to create a new company named GfK-TNS, which will have combined revenues of £1.9 billion and a market value of around £1.5 billion, reports the Press Association.

Extended talks between the two rivals had taken place prior to agreement, and each will hold 50 per cent of the shares in the new company, which will conduct market research in the IT industry among others.

David Lowden, chief executive of TNS, said the new London-based firm would be a "global leader" in the market information industry."Opportunities for shareholders in terms of increasing shareholder value are very significant, he added.

Commenting on last month's failed take-over of TNS by advertising and communications organisation WPP he stated that the combination of TNS and GfK was "a far stronger option".

The deal is subject to shareholder approval.

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