The withdrawal leaves advertising and marketing giant WPP - headed by chief executive Sir Martin Sorrell - in a stronger position to land the business.
However, TNS continued to insist today that WPP's current proposal, worth £1.05bn, undervalued the business, particularly in the light of half-year results showing a 13.3 per cent rise in adjusted pre-tax profits to £41.8m.
TNS provides a range of market research information, including focus groups and opinion polls. Its clients include blue-chip firms such as HSBC, Microsoft and Unilever, while it also produces supermarket sales data which is closely watched by the City.
GfK, which is one of the world's biggest market research firms, with 9,000 staff and more than 100 operating companies, sparked interest in TNS by proposing a merger of equals earlier this year.
WPP responded with a rival proposal direct to TNS shareholders, after failing to secure a recommendation from the company's board.
GfK had hoped to work with a financial backer on a counter-proposal, but said today that the terms of financing available did not enable a `sufficiently compelling' offer to be made for TNS.
It has terminated all discussions in relation to its interest.
Tweet
