Stagwell, MDC Partners Agree to Merger Following Shareholder Dispute
Shareholders in MDC Partners Inc. and Stagwell Media LP on Monday agreed to merge the two advertising and marketing companies after resolving a dispute that had threatened to derail the deal. Following negotiations, MDC shareholders will own a bigger chunk of the combined business than initially proposed. The combined company will be called Stagwell Inc. and will retire the MDC Partners name, said Mark Penn, who leads both MDC and Stagwell. The merger is expected to close in early August...
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