M&C Saatchi Rejects £50 Million Bid for Performance Division from Brave Bison

M&C Saatchi has rejected a £50 million unsolicited bid from Brave Bison, a marketing rival backed by Rupert Murdoch and Lord Michael Ashcroft, for its digital media planning and buying unit, M&C Saatchi Performance. The division, which includes clients like Amazon and Meta, is viewed by M&C Saatchi as a core element of its growth strategy and the offer was deemed to fundamentally undervalue its future prospects. Brave Bison aimed to merge M&C Performance with its existing operations to create one of the largest independent performance marketing companies outside the U.S., with a strong presence in the UK and Asia-Pacific. Despite Brave Bison's shares rising this year due to acquisitions and client wins, M&C Saatchi faces a challenging advertising market with declining shares amid economic uncertainty. The marketing group emphasized no deal discussions are ongoing and reaffirmed its commitment to delivering shareholder value. Analysts noted that while the bid may undervalue the unit, it highlights the attractiveness of M&C Saatchi's portfolio in the digital advertising space.