MSQ denies holding merger talks with S4 Capital after speculation

MSQ Partners Ltd on Thursday denied it is in talks with S4 Capital PLC about a possible merger, responding to press speculation and an announcement from S4 earlier this week.

The London-based marketing agency said its board has ‘not been involved in discussions regarding, or considered any proposal for’ a transaction. It added that neither MSQ nor majority shareholder One Equity Partners intends to pursue further talks.

MSQ’s statement follows an announcement from London-based advertising firm S4 on Monday, in which the advertising group founded by Martin Sorrell, also the founder of WPP PLC, confirmed it had received a proposal from MSQ regarding a potential combination. S4 said at the time that discussions were at a ‘very preliminary stage’ and there was no certainty a deal would go ahead.

MSQ on Thursday said it understood that informal conversations may have taken place between representatives of One Equity Partners and S4, but that ‘for the avoidance of doubt’, neither OEP nor MSQ intend to pursue further discussions regarding the rumoured transaction.

S4 shares were down 1.6% at 21.94 pence each in London on Thursday afternoon.

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