Toronto-headquartered MDC Corp is trying to gain full control of Canada’s largest agency holding group, Maxxcom.
Maxxcom has interests beyond Canada, with stakes in US agencies such as Crispin Porter & Bogusky and Margeotes/Fertitta & Partners. MDC already holds 74% of the company and is trying to acquire the outstanding stock.
The parent group – which put Maxxcom up for sale less than two years ago [WAMN: 23-Oct-01] – has offered minority shareholders $1.36 (€1.16; £0.81) per share, a premium of around 41%.
It hopes to complete the acquisition, which is dependent on the support of two-thirds of Maxxcom shareholders, by August.
Data sourced from: AdWeek.com; additional content by WARC staff