M&C Saatchi (SAA.L), a British advertising business, has agreed to be acquired by consultancy Next Fifteen Communications (NFC.L), which it claimed on Friday was a superior offer to one made by its largest shareholder.
M&C Saatchi has agreed to be bought by Next Fifteen in a deal worth 310 million pounds ($387 million).
M&C’s shares soared 38% after the news was announced, valuing the company at around 270 million pounds.
It has been fighting a takeover attempt by its largest shareholder Vin Murria and this week rejected a 254 million pound offer.
M&C and Next Fifteen said in a joint statement that the agreement will help them become a far stronger rival in digital marketing and consulting by bringing together blue-chip clients and a wide range of services, as well as increased investment resources.
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