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MDC Partners Inc. (NASDAQ: MDCA) will present at the Sidoti Virtual Investor Conference on June 23, 2021, from 9:15 to 9:45 AM ET. Mark Penn, Chairman and CEO, will lead the presentation. A live audio webcast will be accessible to the public on the MDC Partners website, with archives available for a limited time. MDC Partners is renowned for its innovative marketing and communications services for over 1,700 clients globally.
MDC Partners (NASDAQ: MDCA) has entered a partnership with the Australia-based media agency This is Flow, enhancing its global media and content solutions. This collaboration will leverage This is Flow's regional expertise and MDC's planning technologies, aiming to drive client success across Australia and New Zealand. The partnership aligns with MDC's Global Affiliates Program, which plans to expand to 50 affiliates by year-end. This development marks a significant step in MDC's growth strategy, emphasizing data-driven insights and creative capabilities to meet client needs in today's market.
MDC Partners (NASDAQ: MDCA) announced the postponement of its Special Meeting of Shareholders, initially set for June 22, 2021. The meeting is delayed to allow the Special Committee to evaluate a revised offer from Stagwell Media made on June 12, 2021. No assurance is given that this new proposal will alter the existing transaction agreement from December 21, 2020. The re-scheduled meeting details will be announced soon, and the annual meeting will proceed as planned on June 22, 2021, at 12:30 PM EDT.
MDC Partners, in collaboration with The Harris Poll, released a Canadian consumer confidence report post-COVID-19 restrictions. The study highlights key insights for brands and retailers. Notably, 67% of Canadians saved more money during the pandemic, and 73% believe shopping habits will forever change. A majority (66%) now prefer a hybrid shopping experience. Furthermore, 59% view large companies as more reliable than the government during the pandemic. The survey was conducted online among 1,080 adults in Canada from April 12-14, 2021.
Indaba Capital Management, the largest independent shareholder of MDC Partners (NASDAQ: MDCA), has announced plans to VOTE AGAINST the proposed merger with Stagwell Media LP. Indaba views Stagwell's revised offer as inadequate and not reflecting fair value for MDC’s shareholders. They express concern over Stagwell's lack of communication with major shareholders and cite governance issues. Indaba indicates that while some shareholders support the merger, they demand better compensation beyond the 30% share consideration offered. They are open to discussions for a fair resolution.
On June 14, 2021, MDC Partners (NASDAQ: MDCA) announced that Mark Penn, Chairman and CEO, will participate in investor meetings at the 23rd Annual Credit Suisse Communications Conference. The Company, known for its vibrant marketing and communications network, aims to enhance business growth and deliver effective marketing returns for over 1,700 clients globally. For inquiries regarding Penn's appearance, contact ir@mdc-partners.com.
MDC Partners Inc. (NASDAQ: MDCA) announced a revised offer from Stagwell Media LP for a business combination. The new proposal reduces the share consideration from 216.25 million to 185 million common shares. Post-transaction, current MDC shareholders are expected to own approximately 30% of the new entity. The MDC Special Committee is encouraged by Stagwell's responsiveness to shareholder feedback and will evaluate the proposal swiftly. Additionally, Stagwell will forgo preferred share accretion for a year, and the Stagwell Net Debt Cap will increase by $25 million to $285 million.
MDC Partners agencies 72andSunny, GALE Partners, and YML were recognized in the Ad Age A-List & Creativity Awards for their innovative marketing strategies that integrate creativity and advanced data analytics. GALE Partners won Data and Analytics Agency of the Year for significantly increasing Chipotle's loyalty program. YML was named an Agency Standout for digital transformations with major clients, while 72andSunny earned 2021 Agency Watch with 14 new clients including Grubhub. This recognition emphasizes MDC's commitment to excellence in the marketing sector.
Indaba Capital Management, the largest independent shareholder of MDC Partners (NASDAQ: MDCA), has expressed opposition to MDC's proposed merger with Stagwell Media. Indaba claims that Stagwell's revised offer lacks sufficient value, arguing it should reflect a fairer assessment of MDC, valued at approximately $1.7 billion. The letter to CEO Mark Penn highlights concerns over Stagwell’s approach to governance and transparency, asserting that the proposed terms could disadvantage MDC's shareholders. Indaba has called for a more credible offer from Stagwell, cautioning against proceeding under current conditions.
Mark Penn, CEO and Chairman of MDC Partners (MDCA), encourages shareholders to support the Stagwell-MDC combination. The merger aims to secure nearly 10,000 jobs and enhance shareholder value. Key actions include a commitment to an independent Board of Directors with notable nominees and a proposal to concede 20 million shares, valued at $100 million, to gain broad shareholder approval. The deal may lead to $30 million in annual synergies and significant debt refinancing, addressing MDC's $1 billion debt. The stock has risen from $1.15 to approximately $5 since the merger announcement, reflecting market optimism.
