No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - M&C Saatchi confirmed on Monday that it had received an unsolicited approach for its Performance division from Brave Bison.
Responding to press speculation over the weekend, it said: "The board is of the view that the offer fundamentally undervalues the division and does not reflect the future prospects for the division which forms a core element of the company's growth plans; as such no discussions are ongoing."
The advertising agency said it remains focused on "delivering value" for shareholders.
In a separate statement, Brave Bison confirmed it had submitted a non-binding proposal to buy the business for an enterprise value of £50m.
"The intention of the company would be to combine MCSP with Brave Bison's existing performance marketing operations to form a scaled digital media challenger to the global marketing networks," it said.
"The combined business would be one of the largest independent performance marketing companies outside the US, with a market-leading presence in UK and APAC with no substantial regional overlap."
M+C Saatchi Performance is a global performance marketing business, headquartered in Singapore with around 410 staff and operations across APAC, MENA, US and UK. It specialises in growth marketing for digital native brands.
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.
