Marketing behemoth Dentsu has launched a $4.8bn bid to purchase global media giant Aegis.
The offer has been backed by the board of Aegis which includes shareholder Harold Mitchell who sold his business Mitchell & Partners to Aegis in 2012. Mitchell is one of Aegis’ largest shareholders.
The 111-year-old Dentsu dominates the Japanese market and employs 21,000 people in 29 countries. Aegis – whose brands include Carat and Vizeum – employs 12,000 people across 80 countries. Dentsu has effectively already acquired 30% of Aegis.