Tech entrepreneur Murria considers bid for advertising firm M&C Saatchi


  • Largest investor expresses interest in an offer
  • Murria controls more than 20% of the shares
  • M&C stock up 7% after previous gains

LONDON, Jan. 6 (Reuters) – M&C Saatchi (SAA.L) has received interest from its director and main shareholder Vin Murria in an offer to take over one of the biggest names in British advertising, announced Thursday the company.

Founded in 1995 by brothers and advertising tycoons Maurice and Charles Saatchi, M&C is still recovering from an accounting scandal in 2019 that rocked the agency known for its campaigns for the ruling Conservative Party in Britain.

M&C said Murria, which directly owns 12.5% ​​of the advertising company and 9.8% through its acquisition vehicle, did not issue a detailed proposal or terms, but told the company to expect one in the near future.

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M&C shares rose 7% early in Thursday to add to the jumps of recent days as Murria increased her stake, giving her a market valuation of more than 240 million pounds ($ 324 million).

The title, which is recovering steadily as the group has outperformed market forecasts, has now jumped 20% since the end of 2021 but remains 40% below 2019 levels.

Murria, vice president of M&C, joined the company in March 2021 as it recovered from two difficult years, helped by customer gains under the leadership of Moray MacLennan of Apple, Mars, GSK, Iceland and Reckitt.

Murria has created a number of shutdown enterprise software companies and sits on several boards.

“The board confirms that the new strategy announced in the first quarter of 2021 is already bearing fruit, with the company’s performance consistently exceeding expectations, as evidenced by a succession of positive business improvements,” M&C said in a statement. .

M&C produces advertising and content for companies such as Amazon’s Audible, Zipcar and EDF.

If taken over by Murria, it would become the last name to leave the UK stock market, following a wave of private equity purchases over the past year.

($ 1 = 0.7404 pounds)

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Reporting by Kate Holton; Editing by Alistair Smout, Paul Sandle and David Clarke

Our Standards: Thomson Reuters Trust Principles.


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