The British group WPP is studying a friendly takeover bid for the American agency YOUNG & RUBICAN. Valued at $4 bn, the American group, which is, moreover also in talks with the French firm PUBLICIS, is considered to be one of the last great American independent networks. According to the Daily Telegraph, WPP is prepared to offer $4.7 bn through a share swap, in view of creating a new group held to the tune of 65% by WPP and 35% by the shareholders of YOUNG & RUBICON.