M&C agrees deal with Fifteen Communications

The independent directors of M&C Saatchi have agreed a deal to sell the British advertising company to consultancy Next Fifteen Communications , saying it offered a superior outcome to an alternative bid from its biggest shareholder. M&C, one of the biggest names in British advertising, has been fighting off an offer from Vin Murria and rejected a deal worth 254 million pounds ($317 million) earlier this week.

The independent directors of M&C Saatchi have agreed on a deal to sell the British advertising company to consultancy Next Fifteen Communications, saying it offered a superior outcome to an alternative bid from its biggest shareholder.

M&C, one of the biggest names in British advertising, has been fighting off an offer from Vin Murria and rejected a deal worth 254 million pounds ($317 million) earlier this week. It said on Friday the deal with Fifteen was worth 310 million pounds. ($1 = 0.8010 pounds)