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M&C Saatchi PLC - London-based advertising agency - Adjourns meetings which were due to be held on Friday.
In the last few months, M&C has found itself in a takeover battle between Next Fifteen Communications Group PLC and its largest shareholder AdvancedAdvT Ltd. This week, both companies said they have received regulatory approval for each takeover, except in Next Fifteen's case which still needs US clearance.
It now expects that Day 60 of the ADV offer will occur in the fourth quarter of this year and it will be four business days before the general meeting on Next 15.
‘The company will update shareholders on the expected timing of the reconvened M&C Saatchi meetings and therefore Day 60 of the ADV offer in due course,’ it adds.
Current stock price: 159.80 pence
12-month change: up 22%
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