MSLGroup is handling US media for Recall Holdings, which today rejected as inadequate a $1.8B takeover bid by document management rival Iron Mountain.

Recall, which is based in Australia, says the $5.70 per-share takeover offer represents only a 9.4 percent premium over the Dec. 12 closing price and fails to reflect its double-digit growth strategy and margin expansion plans.

The company maintains its shareholders would receive an insufficient portion of the $3.B value created by the merger.

Recall uses Norcross, GA, as its US base.

Abernathy MacGregor works the American press for Iron Mountain, which says Recall management has overestimated the net synergies of the tie-up.

It believes the takeover is the "right opportunity at the right time for Iron Mountain and Recall shareholders to own the stock of a global combined company with attractive growth prospects—but only at the right price," according to the company's statement.

Recall relies on GRACosway for media duties in Australia, while Boston-based Iron Mountain has Cato Counsel doing the job there.

Publicis Group owns MSLGroup. Havas controls Abernathy MacGregor.