he WPP Group and the Grey Global Group pushed back the date when either side can call off the engagement if marriage plans run into trouble. The UK-based WPP agreed on September 11 to buy New York-based Grey. Under that pact, either side could cancel the deal if it doesn�t close by nine months later - June 11, 2005.

Under revised terms, either side can walk away if the deal doesn�t close after 11 months - that is August 11, 2005. Grey can cancel the deal before that by paying WPP a termination fee of $56 million. And WPP can cancel the merger before August if Grey�s board "withdraws, modifies or adversely changes" its recommendation that Grey shareholders vote for the deal; or if Grey�s board recommends shareholders vote for an acquisition proposal from someone else.... more