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British advertising group M&C Saatchi SAA said on Monday rival media group Brave Bison's 50 million pound ($67.11 million) proposal for its media business undervalues the division. M&C Performance, M&C Saatchi's digital media planning and buying division, is a key growth driver for the group, handling clients like Amazon AMZN and Meta META. Brave Bison said it intends to combine the division with its existing performance marketing operations to create one of the largest independent performance marketing companies outside the U.S., with market-leading presence in the UK and Asia-Pacific. Backed by Rupert Murdoch and former Conservative Party treasurer Lord Ashcroft, Brave Bison has been on an acquisition spree, snapping up five businesses this year alone. M&C Saatchi said the performance division, which generated net revenues of 26.8 million pounds in 2024, forms a core element of its growth plans and that no discussions are ongoing. ($1 = 0.7451 pounds)
