Committee Engages Moelis & Company LLC and DLA Piper
LLP (US) to Assist in Evaluating Potential Business Combination
with Stagwell
NEW YORK, July 15, 2020 /PRNewswire/ -- MDC Partners Inc.
(the "Company") (NASDAQ: MDCA) today announced that the
Special Committee formed by its Board of Directors has retained
Moelis & Company LLC and DLA Piper LLP (US) as its independent
financial and legal advisors, respectively.
As previously announced, the Special Committee, chaired by Lead
Independent Director Irwin Simon,
was formed to evaluate a preliminary, non-binding proposal made by
Stagwell Media LP ("Stagwell") with respect to a potential business
combination between the Company and Stagwell (the "Potential
Transaction"). The committee consists of Mr. Simon and other
independent members of the Company's Board of Directors.
"We will act in the best interests of the Company and our
shareholders as we evaluate the Potential Transaction, as well as
any alternatives that may become available to the Company, and are
pleased to have enlisted the experience and expertise of
independent advisors Moelis & Company and DLA Piper in that
process," said Mr. Simon.
No assurances can be given regarding the likelihood, terms and
details of any proposal or Potential Transaction, that any proposal
made by Stagwell regarding a Potential Transaction will be accepted
by the Special Committee, that definitive documentation relating to
any such Potential Transaction will be executed or that any
Potential Transaction, or other business combination, will be
completed.
Forward Looking Statements
Certain statements in this announcement, including statements
regarding a Potential Transaction, are "forward-looking statements"
that are subject to risks and uncertainties. These risks and
uncertainties include, but are not limited to, the impact of the
announcement of the formation of the special committee and review
of a Potential Transaction on the Company's business, whether any
Potential Transaction will occur, and/or the ability to implement
any Potential Transaction or other transaction. A number of
important factors could cause actual results to differ materially
from those contained in any forward-looking statement, including
the risks identified in our filings with the U.S. Securities and
Exchange Commission.
About MDC Partners Inc.
MDC Partners is one of the most influential marketing and
communications networks in the world. As "The Place Where Great
Talent Lives," MDC Partners is celebrated for its innovative
advertising, public relations, branding, digital, social and event
marketing agency partners, which are responsible for some of the
most memorable and effective campaigns for the world's most
respected brands. By leveraging technology, data analytics,
insights and strategic consulting solutions, MDC Partners drives
creative excellence, business growth and measurable return on
marketing investment for over 1,700 clients worldwide. For more
information about MDC Partners and its partner firms, visit our
website at mdc-partners.com and follow us on Twitter
at twitter.com/mdcpartners.
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SOURCE MDC Partners Inc.