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M&C Saatchi Bidder AdvancedAdvT Submits Revised Offer

  • New bid with partial cash alternative was submitted last week
  • Original offer was rebuffed as not reflecting the value of M&C

The London-listed acquisition vehicle that made an offer for M&C Saatchi Plc earlier this month has returned to the advertising company with a revised proposal, Sky reported on Sunday.

AdvancedAdvT Limited, which is backed by technology entrepreneur Vin Murria, submitted a revised bid to the M&C Saatchi board late last week. It included about 40 pence a share in cash, Sky reported, citing unidentified people involved in the City of London as saying.