M&C SAATCHI has dodged a hostile takeover from Next 15, after shareholders voted against the offer at a court meeting yesterday.

As a result of the vote, the takeover offer expired, the adland titan said.

This comes after Vin Murria and her investment vehicle

AdvancedAdvT, which owns approximately 22.3 per cent of M&C shares, launched their own unsuccessful takeover bid. She said Next's bid undervalued the firm.

M&C Saatchi said: "Following the lapse of (offers) the... directors look forward to continuing the implementation of M&C Saatchi's strategy as an independent business."

(c) 2022 City A.M., source Newspaper