WPP will go through with its £426m (€692m) takeover of Tempus after a month of unsuccessful appeals to the UK takeover panel to invoke a material adverse change clause in its offer.

WPP, the world's second largest advertising agency, has decided to accept last week's panel decision that said WPP could not withdraw its offer for Tempus, the UK media buyer. Earlier this week WPP, its advisers Merrill Lynch and Goldman Sachs, and lawyers Allen & Overy received a detailed written summary of the reasoning behind the decision.