West LB Panmure is providing WPP, the world's second largest advertising group, with financial advice in the first voluntary offer for a German public company under new takeover rules.

WPP has launched a bid for the 80% of it does not already own of Concept!, a German advertising group. The bid is being made by the German part of Ogilvyone worldwide, one of WPP's subsidiaries. WPP has already concluded an agreement to buy 49% of the shares from Volker Tietgens, founding shareholder and now member of Concept!'s supervisory board, at €6.80 ($6.00) per share, meaning WPP has secured control of the company.