M&C Saatchi Says Continues To Reject AdvancedAdvt Takeover Offer; Backs Earnings View

M&C Saatchi Plc (SAA.L), an advertising and marketing firm, said on Tuesday that it has once again rejected the takeover offer by AdvancedAdvt Limited, an acquisition vehicle company. In addition, the company has reaffirmed its earnings outlook.

The London-headquartered firm has rejected ADV offer, mainly citing that the original offer is derisory and now even lower at current implied values.

It further said the ADV share price is currently 29.1 percent below its share price immediately prior to its suspension on January 7.

Looking ahead, the company said it is on track to deliver its headline profit before tax of 31 million pounds for the fiscal 2022, and 41 million pounds for the year 2023.

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