M&C Saatchi accepts takeover bid for $549m, with Vin Murria gazumped
British advertising group, M&C Saatchi has agreed a deal to be purchased by digital marketing group, Next Fifteen for £310 million (A$549m), after the group rejected a fourth bid last week from top shareholder, Vin Murria.
As the negotiations had rolled on through the entirety of 2022 so far, with tech entrepreneur Vin Murria eventually failing to agree to a takeover, with the final bid of £254 million (A$450m) falling well short of the eventual bid from Next Fifteen. The deal values shares of M&C Saatchi at 247.2 pence, as M&C Saatchi added the deal had the support of senior staff.
Mumbrella understands that locally there will be no material impact, however working with Next Fifteen provides an opportunity for a potential expansion of capabilities, particularly in data space.
Calum, I realise that in these uncertain economic times that the stock exchange varies wildly day-to-day and that exchange rates are volatile as well.
Here are three Copy/Pastes from your article:
* “…Next Fifteen for £310 million (A$549m)…”
* “…Vin Murria eventually failing to agree to a takeover, with the final bid of £254 million (A$627m)…”
* “…Murria’s stakes in M&C Saatchi (personal and through AdV) valued it at roughly £250 million (A$439m)…”
Can you please amend your article (I suspect that the second is incorrect)?
You can thank the dog for noticing it when he was having a wash.
Hi Anon
Thanks for the heads up, that second figure was in fact wrong, just a simple error on our end.
The others were all correct at the time of writing.
Hope the dog is well!
Calum