Statement re Press Comment
M&C Saatchi PLC acknowledged recent press speculation regarding its M&C Saatchi Performance division. The company confirmed receiving an unsolicited offer from Brave Bison Plc for the division. However, the Board has rejected the offer, believing it fundamentally undervalues the division and its future prospects, which are considered a core element of the company's growth plans. Consequently, M&C Saatchi is not engaging in further discussions regarding the offer. The Board stated its continued focus on delivering value for the company's shareholders.
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The Board of M&C Saatchi (the "Board") notes the recent press speculation relating to the Company's M&C Saatchi Performance division (the "Division"). The Board can confirm it received an unsolicited approach for the Division from Brave Bison Plc (the "Offer"). 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 Board remains focused on delivering value for the Company's shareholders.
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