M&C Saatchi’s fortunes as a public company have certainly been diverting: it’s currently recovering from an accounting black hole and its four founders have all disappeared in the past year or so.
Now it finds its deputy chairman seemingly trying to take over the company. Tech entrepreneur Vin Murria (above), who bought 12.5 per cent of the then-stricken agency last year before joining the board, has topped it up with another 9.8 per cent for a chunky £24m. This time through a separate investment vehicle (in which she’s the third biggest shareholder.) Which puts her firmly in the driving seat at the agency now helmed by Moray MacLennan.
Under Takeover Panel rules Murria has until February 3 to make a full bid.
Murria’s faith in M&C is no doubt welcome although these machinations might not be to Maclennan and co. as they concentrate on trying to fully restore the agency’s fortunes.