Twist in takeover battle for M&C Saatchi: support for $549m bid withdrawn

June 20, 2022 10:45

The takeover saga of M&C Saatchi has encountered a dramatic turn, after support for a £310m (A$549 million) takeover bid from digital marketing group Next Fifteen was withdrawn.

Last month, the British advertising group agreed to a deal to be purchased by Next Fifteen, after the group rejected a fourth bid last week from the top shareholder, Vin Murria. Had the takeover gone through, it would’ve ended almost three decades of independent ownership of the agency, which was founded by brothers Maurice and Charles Saatchi in 1995.

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Seja Al Zaidi

Seja Al Zaidi was Mumbrella’s finance reporter, spearheading the publication’s coverage on the financials of advertising, marketing and media sectors.

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