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Nil-Paid

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Nil-Paid
A tradeable security that did not incur any costs on its original owner. A common example is renounceable cum rights on a stock, which are attached to a stock and are issued to the original owner free of charge. However, the owner may separate the cum right from the stock and sell it. Thus, while a nil-paid has value, at least insofar as there are potential buyers, it does not cost the original owner anything in order to acquire it.


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TNS was first approached by WPP after it announced a nil-paid merger with Germany's GfK, which would create the world's second-largest market research business with a combined value of about £1.
The WPP chief executive put in an unsolicited £948m offer over the weekend for TNS, which recently announced a nil-paid merger with its German rival GfK, which would create the world's second-largest market research business.
Sorrell's £948m bid came just days after TNS announced a nil-paid merger with its German rival GfK, which would create the world's second-largest market research business with a combined market value of about £1.
 
 
 
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