WPP's acquisition of media buying group Tempus would be earnings-enhancing within a year if it goes through, according to the offer document shareholders received today.

But there were no surprises in the document, which formally sets out WPP's 555p per share cash offer for Tempus.

It says the board of WPP believes economies of scale are "critical to providing clients with competitive media buying".

If WPP's proposed takeover succeeds the company will add Tempus's media buying agency, CIA, to its own media operations, MindShare and The Media Edge.

WPP claims its media-buying strength in the US, Latin America, Canada and Asia Pacific would complement Tempus's strength in Europe. It also points out that the two companies could save money by sharing media research.

The document adds that a deal would result in cost savings of at least £13m from cuts in the two companies' head office operations and local offices.

Tempus shareholders have until October 1 to decide whether to accept WPP's offer.

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