The quoted bid vehicle pursuing a takeover of M&C Saatchi has tabled a fresh offer which includes a partial cash alternative for investors in the London-listed advertising group.
Sky News has learnt that AdvancedAdvT, which is backed by the technology entrepreneur Vin Murria and serial dealmaking group Marwyn, submitted a revised bid to the board of M&C Saatchi late last week.
City sources said the new proposal included roughly 40p-a-share in cash, a shift from the initial all-share offer.
The latest development underlines the continuing tussle over the future of one of the best-known names in the advertising industry.
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