幸运飞行艇官方开奖记录查询 Next 15 gazumps Vin Murria with £310m deal for M&C

Digital marketing group Next 15 is attempting to strike a £310m deal to acquire M&C Saatchi in a move which the group claims will bring “creativity and strategy” to its “technology and data-driven offering”.

The move appears to have taken the industry by surprise, none more so than tech entrepreneur Vin Murria, whose investment vehicle AdvancedAdvT (ADV) has had four offers rejected for the business since January.

Next 15, which has a £1.2bn market valuation, has tabled a cash and share offer for M&C Saatchi that it aims to seal through a scheme of arrangement, which requires the approval from 75% of shareholders.

This will force any investors against the deal to sell once the threshold is met. M&C Saatchi’s independent directors have unanimously recommended the offer to shareholders.

The deal comes just two months after Next 15 swooped on Engine UK to complement its data-driven communications offering, in a deal worth £77.5m.

M&C Saatchi chairman Gareth Davis said: “The M&C Saatchi independent directors are pleased to unanimously recommend this alternative, more attractive offer which we are confident is in the best interests of M&C Saatchi shareholders and M&C Saatchi’s other key stakeholders.

“The M&C Saatchi independent directors all consider Next 15’s offer to be far superior to the offer announced earlier this week by ADV, and a clear repudiation of ADV’s response statement that it strongly disagreed its bid undervalued M&C Saatchi.”

The company board called Murria’s latest offer, which valued the business at £254m, “derisory” and said there was a “total lack of support” from its 18-strong executive team.

ADV and Murria, who is deputy chair of M&C Saatchi and its biggest single shareholder control 22% of the agency.
Earlier this week she said that her latest offer had support from a further 21% of M&C Saatchi shareholders, although she had only secured irrevocable undertakings committing to it from a few per cent.

Next 15 CEO Tim Dyson (pictured) said: “This is an exciting opportunity to bring together two highly complementary businesses creating a truly global and diversified group with exceptional capabilities, clients and talent.

“M&C Saatchi is synonymous with creativity and strategy, whereas Next Fifteen has built a reputation around its technology and data-driven offering. This makes for a great combination, and we are confident we can accelerate the ambitions of both businesses, creating significant value for our clients, our people and our shareholders.”