3rd Nov 2025 09:42
(Alliance News) - M&C Saatchi PLC on Monday said it had rejected an "unsolicited approach" for its Performance division from Brave Bison PLC.
Responding to reports, the London-based advertising and communications agency said the offer "fundamentally undervalues" the division and does not reflect its future prospects.
London-based marketing technology firm Brave Bison said the offer for M&C Saatchi Performance was worth an enterprise value of GBP50 million.
Brave Bison had intended to combine M&C Saatchi Performance with its existing performance marketing operations, forming one of the largest independent performance marketing companies outside the US.
But M&C Saatchi stressed the division forms a "core element" of the company's growth plans, and as such, no discussions are ongoing.
M&C Saatchi Performance is a global performance marketing business, headquartered in Singapore.
Shares in M&C Saatchi were up 4.3% at 141.80 pence each in London on Monday morning. Brave Bison was down 0.7% at 80.40p.
Brave Bison said completion of the deal was expected to be "materially accretive" to underlying earnings per share on a pro-forma basis.
It would be expected to contribute a minimum of GBP8 million in adjusted earnings before interest, tax, depreciation and amortisation increasing the enlarged Brave Bison pro-forma adjusted Ebitda by over 80% to GBP17 million.
In 2024, Brave Bison reported adjusted Ebitda of GBP4.5 million.
Brave Bison said the prospective deal would be funded via a new bank facility of up to GBP25 million, and a placing of new shares.
By Jeremy Cutler, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
M&C SaatchiBrave Bison