Global law firm Ashurst is advising Next Fifteen Communications Group plc on its recommended cash and share acquisition of M&C Saatchi for approximately £310.1 million.
AIM-traded Next Fifteen’s vision is to build a growth consultancy that combines specialist capabilities with global scale. The combination with M&C Saatchi will bring together highly complementary strengths and strategies, with the enlarged group expected to be a leading player with strong brands in countries across the globe, including the US, UK, Asia and Australia. This diversifies and expands Next Fifteen’s and M&C Saatchi’s existing exposure to attractive end-markets with favourable long-term growth trends and strong industry fundamentals.
The acquisition values each M&C Saatchi share at 247.2 pence and the entire issued and to be issued ordinary share capital of M&C Saatchi at approximately £310 million on a fully diluted basis.
The Ashurst team was led by corporate partner James Fletcher, supported by senior associate Aimee Carroll-Hewitt, associates Kiara de Silva, Millie Gibbs, Roshni Mehra and Jasmine Fox. Partner Tim Rennie and corporate lending strategy director Dave Rome advised on the financing, supported by senior associate Asil Robertson, and associates Andrew Thompson and Jennifer Reyes Au. Partner Steven Vaz advised on regulatory matters, supported by senior associate Laura Carter and associate Louisa Northover. Senior associate Rebecca Servian also advised on incentives arrangements.