yes they did. WPP was essentially built over the years by...

yes they did. WPP was essentially built over the years by acquiring other advertising agencies. This is why they have alot of intangibles on the balance sheet.

In a 'normal' market I would not be a big fan of this type of company that grows through M&A (and generally destroys part of share holder wealth in the process). However WPP is not trading on normal share prices, its trading at a steal in my opinion.

For me, buy now, grab several years of dividends and then offload once the share price approaches a $1.00 or so