Indaba Capital Issues Statement Regarding Stagwell''s Inadequate Revised Offer
Indaba Capital Management L.P. (together with its affiliates, "Indaba" or "we"), which is the largest independent shareholder of MDC Partners Inc. (NASDAQ: MDCA ) ("MDC" or the "Company"), today issued the below statement regarding the Company''s prospective merger with Stagwell Media LP ("Stagwell"). After reviewing the revised offer issued by Stagwell on June 14, 2021, Indaba plans to VOTE AGAINST the combination. Derek Schrier, Managing Partner of Indaba, commented: "Indaba believes that Stagwell''s revised offer which follows its purported best-and-final offer last week is inadequate. In our view, this highly-caveated revised offer fails to provide MDC''s shareholders with fair consideration. It appears the market shares our view based on the fact that MDC''s share price moved Full story available on Benzinga.com
Indaba Capital Issues Statement Regarding Stagwell''s Inadequate Revised Offer
Indaba Capital Management L.P. (together with its affiliates, "Indaba" or "we"), which is the largest independent shareholder of MDC Partners Inc. (NASDAQ: MDCA ) ("MDC" or the "Company"), today issued the below statement regarding the Company''s prospective merger with Stagwell Media LP ("Stagwell"). After reviewing the revised offer issued by Stagwell on June 14, 2021, Indaba plans to VOTE AGAINST the combination. Derek Schrier, Managing Partner of Indaba, commented: "Indaba believes that Stagwell''s revised offer which follows its purported best-and-final offer last week is inadequate. In our view, this highly-caveated revised offer fails to provide MDC''s shareholders with fair consideration. It appears the market shares our view based on the fact that MDC''s share price moved Full story available on Benzinga.com