Next 15 Group (NFG)

Sector:

Media

Index:

FTSE AIM 50

924.00p
   
  • Change Today:
      4.00p
  • 52 Week High: 959.00
  • 52 Week Low: 554.00
  • Currency: UK Pounds
  • Shares Issued: 99.29m
  • Volume: 196,651
  • Market Cap: £917.47m

M&C Saatchi withdraws support for Next 15 offer

By Michele Maatouk

Date: Friday 17 Jun 2022

LONDON (ShareCast) - (Sharecast News) - M&C Saatchi said on Friday that it can no longer recommend a £310m takeover bid by Next Fifteen after shares in the latter materially deteriorated.
The company announced last month that it had accepted a takeover offer from Next Fifteen at 247.2p a share. This comprises 0.1637 of a new Next 15 share and 40p in cash. However, it noted on Friday that since then, the Next 15 share price has materially deteriorated, meaning the offer now implies a total value of 189p per share based on the closing price of 910p on Thursday.

As a result, M&C Saatchi, advised by Numis and Liberum, no longer considers the terms to be fair and reasonable.

Last week, the ad agency removed Vin Murria, its largest shareholder, from its board, after rebuffing her bid to take over the company. In May, Saatchi snubbed a £254m takeover offer from Murria's AdvancedadvT investment vehicle, recommending the Next Fifteen offer instead.

Despite deeming both offers to be "inferior" to its standalone prospects, Saatchi conceded on Friday that it has "no certainty that the standalone prospects will be capable of being delivered in the way that they currently envisage".

In that case, Saatchi said the offer by Next 15 would be superior to the ADV offer.

At 0940 BST, the shares were down 7% at 164.80p.

Next 15 said it was "disappointed" by M&C Saatchi's decision. It acknowledged the drop in its share price but said it "has been similar to relevant market indices and sector peers and that the price of M&C Saatchi shares has been supported over that period by the ADV offer and the proposed acquisition".

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Next 15 Group Market Data

Currency UK Pounds
Share Price 924.00p
Change Today 4.00p
% Change 0.43 %
52 Week High 959.00
52 Week Low 554.00
Volume 196,651
Shares Issued 99.29m
Market Cap £917.47m

Next 15 Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
65.61% below the market average65.61% below the market average65.61% below the market average65.61% below the market average65.61% below the market average
59.09% below the sector average59.09% below the sector average59.09% below the sector average59.09% below the sector average59.09% below the sector average
Price Trend
48.23% above the market average48.23% above the market average48.23% above the market average48.23% above the market average48.23% above the market average
48.94% above the sector average48.94% above the sector average48.94% above the sector average48.94% above the sector average48.94% above the sector average
Income
20.55% above the market average20.55% above the market average20.55% above the market average20.55% above the market average20.55% above the market average
15.79% above the sector average15.79% above the sector average15.79% above the sector average15.79% above the sector average15.79% above the sector average
Growth
70.52% above the market average70.52% above the market average70.52% above the market average70.52% above the market average70.52% above the market average
54.55% above the sector average54.55% above the sector average54.55% above the sector average54.55% above the sector average54.55% above the sector average

Next 15 Group Dividends

  Latest Previous
  Interim Final
Ex-Div 19-Oct-23 06-Jul-23
Paid 24-Nov-23 11-Aug-23
Amount 4.75p 10.10p

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 21,011 @ 924.00p
16:35 91 @ 924.00p
16:35 42 @ 924.00p
16:35 21 @ 924.00p
16:35 132 @ 924.00p

Next 15 Group Key Personnel

CEO Tim Dyson
CFO Peter Harris
Chair Penny Ladkin-Brand

Top of Page