Brave Bison has confirmed it made an unsolicited £50 million offer to acquire M&C Saatchi Performance, only to see the approach rebuffed by M&C Saatchi.
Brave Bison, the next-generation marketing group, submitted a non-binding proposal for the companies, trade and assets comprising MCSP, which it planned to merge with its existing performance marketing operations. The combination would have created one of the largest independent performance marketing companies outside the US.
M&C Saatchi, however, has dismissed the approach as fundamentally undervaluing the division. The company said the offer “does not reflect the future prospects” for MCSP, which it described as a core element of its growth strategy.
M&C said no discussions are ongoing, while Brave Bison’s announcement, released at the same time as M&C’s rejection, detailed how it plans to fund the acquisition.
This may not be the last we hear of Brave Bison’s interest in the division.
MCSP, headquartered in Singapore with approximately 410 staff across APAC, MENA, the US and UK, generated net revenue of £26.8 million in 2024 – an 8% year-on-year increase. The division, established in 2006 and now led by CEO Kabeer Chaudhary, works with major clients including Grab, Amazon, Canva and Meta.
Brave Bison had projected the acquisition would contribute a minimum of £8 million in adjusted EBITDA, boosting its own adjusted EBITDA by over 80% to £17 million.