LONDON, June 6 (Reuters) - British advertising group M&C Saatchi, which last month agreed a takeover by consultancy Next Fifteen Communications, has removed Vin Murria, its biggest shareholder, from its board, it said on Monday.
The group had last month rejected an offer worth 254 million pounds ($317.5 million) from Murria's AdvancedadvT investment vehicle in favour of one from Next Fifteen worth 310 million pounds.
M&C Saatchi said its independent directors had concluded that it was not appropriate for Vin Murria to be proposed for re-election as a director at the company's annual shareholders meeting on June 30.
"Therefore, the independent directors have resolved that Vin Murria be removed from the board with immediate effect and no resolution for Vin Murria's re-election be presented at the AGM," the company said.
M&C, founded in 1995 by brothers Maurice and Charles Saatchi, has been recovering from a 2019 accounting scandal but in April reported a record annual profit helped by client wins and deeper relationships with the likes of Alphabet's Google, Uber and TikTok. ($1 = 0.8001 pounds) (Reporting by James Davey, Editing by Louise Heavens)
M&C Saatchi (SAA)
