Deal comes after UK ad agency rejects lower offer from largest shareholder
M&C Saatchi has agreed a £310mn takeover by Next Fifteen, days after the advertising group rejected a lower “hostile” offer from the investment vehicle of its largest shareholder Vin Murria.
M&C, a UK ad agency founded by the Saatchi brothers and known for its ties to the Conservative party, this week rejected Murria’s sweetened offer of £254mn through AdvancedAdvT, also known as ADV.
M&C’s independent directors on Friday instead gave their unanimous support for a higher £310mn cash and shares offer from Next Fifteen, a listed communications group with a market value of about £1.2bn.
Read more: FT
