M&C Saatchi agrees to £310m takeover by Next Fifteen

m&C saatchi

London-listed digital marketing group Next Fifteen has made a £310m takeover offer for rival agency M&C Saatchi, which the latter has accepted.

M&C Saatchi’s board has agreed to the takeover offer, scuppering multiple previous attempts by investment vehicle AdvancedAdvt to take over the company.

The acquisition values each M&C Saatchi Share at 247.2 pence and the entire issued and to be issued ordinary share capital of M&C Saatchi at approximately £310.1 million on a fully diluted basis.

Commenting on the Acquisition, Tim Dyson, CEO of Next Fifteen 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. 

“Bringing M&C Saatchi into the Next Fifteen group provides us with a step change in our scale and global reach, and an enhanced ability to offer digitally driven solutions to growth-minded organisations. 

“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.”

Commenting on the Acquisition, Moray MacLennan, CEO of M&C Saatchi said: “This merger will be a powerful accelerator for M&C Saatchi. 

“Through connecting with Next Fifteen capabilities and companies, our ability to deliver Meaningful Change for existing and new clients will be deepened and broadened, turbo charging our next phase of growth.”

M&C Saatchi’s share price surged 35% to £2.23 on the back of the news of the takeover offer.