MSQ rules out deal with Martin Sorrell's S4 Capital
By Michele Maatouk
Date: Friday 15 Aug 2025
(Sharecast News) - MSQ Partners has poured cold water over the idea of a potential merger with Martin Sorrell's S4 Capital.
In a brief statement on Thursday, the company said it had been "surprised" by the speculation and recent announcement regarding a potential merger with S4 Capital.
S4 announced on Monday that it had received a proposal from MSQ, a creative and technology agency owned by One Equity Partners, about a possible combination.
Responding to a Sky News report, S4 said discussions were at a "very preliminary" stage and that there could be no certainty that a transaction would be forthcoming.
If agreed, it said, the possible combination would be structured as an acquisition of MSQ by S4 Capital and not an offer under the takeover code for S4 Capital by MSQ.
But MSQ said on Thursday that its board of directors has not been involved in discussions regarding, or considered any proposal for S4 Capital.
"While speculative informal conversations form part of the investor community and MSQ understands that such discussions may have taken place between representatives of One Equity Partners (OEP), MSQ's majority shareholder, and S4 Capital, for the avoidance of doubt, neither OEP nor MSQ intend to pursue further discussions regarding the rumoured transaction," MSQ said.
"MSQ remains focused on and confident in its primarily organic growth strategy, which has delivered consistent revenue and EBITDA growth over a 15 year period and two of the most successful private equity exits in the marcomms sector over recent years," it added.
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