M&C Saatchi Agrees to $390 Million Takeover by Next Fifteen
Posted: Sat May 21, 2022 2:09 pm
LONDON—British advertising group M&C Saatchi has agreed a takeover by consultancy Next Fifteen Communications, which it said on Friday represented a better offer than one made by its biggest shareholder. M&C, founded in 1995 by brothers Maurice and Charles Saatchi, has been recovering from a 2019 accounting scandal but last month reported a record annual profit helped by client wins and deepened relationships with the likes of Alphabet’s Google, Uber, and TikTok. It has been fighting a takeover attempt by its largest shareholder Vin Murria and this week rejected a deal worth 254 million pounds. The Next Fifteen offer was worth 310 million pounds ($387 million), valuing its shares at 247.2 pence apiece, M&C said on Friday, adding that its senior staff fully backed the deal....
Source: https://www.theepochtimes.com/mc-saatch ... 79103.html
Source: https://www.theepochtimes.com/mc-saatch ... 79103.html