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.
The move from Next Fifteen, a larger communications and marketing company, follows months of wrangling over M&C’s future after the takeover attempt by Murria, a serial tech entrepreneur who owns a 12.5 per cent stake in the company.
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.
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