Shares in Sir Martin Sorrell’s S4 Capital shot up 5.4 per cent after he stated he had rejected a number of provides from a New York rival.
The promoting tycoon, who based the company in 2018 after leaving big WPP, reportedly turned down Stagwell’s bids as a result of they undervalued the company.
The revelations come amid considerations about international bidders pouncing on companies with low valuations.
London-listed bathroom roll maker Accrol yesterday accepted a £127.5m takeover supply from Portuguese competitor Navigator Paper.
US non-public fairness big KKR confirmed a £1.3billion takeover of Glasgow’s Smart Metering Systems.
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And US activist investor Elliot Investment has taken a 5 per cent stake in funding belief Scottish Mortgage.
In December, Sorrell warned that London dangers ‘changing into a backwater’.
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