The three main entities in a bidding war for Paris-based video giant Technicolor have engaged PR counsel in the U.S. and abroad.
FTI Consulting is guiding strategic communications for Vector Capital in the U.S. and France as the San Francisco private equity firm squares off against JPMorgan Chase & Co. to acquire a large stake in Technicolor SA.
Vector on June 13 upped its bid for Technicolor by 21.2 percent to more than 191M euro for a 17.5% stake.
Technicolor, which had revenue of more than 3.4B euro in 2011 and took the name of its well-known U.S. film subsidiary in 2010, last week rebuffed JPMorgan’s 179M euro offer for a 30 percent stake.
Brian Maddox, senior managing director for FTI in New York, and Guillaume Foucault, a managing director based in Paris, are handling media for Vector. FTI is also supporting IR for the deal. Vector has also tapped the shareholder relations firm Georgeson.
JPMorgan has engaged Euro RSCG C&O in France to handle PR for its pursuit of a deal.
Technicolor, which acknowledged the revised Vector bid today, is working with Brunswick Group for media relations support and counsel. Brunswick director Marie-Laurence Bouchon in Paris is on the account. The company on June 10 said JPMorgan’s revised bid was rejected by its board because new terms, including a 3.4M euro break-up fee, were deemed unfavorable.
Technicolor said it will use its “reasonable best efforts” to approve the original deal with JPMorgan agreed upon in early May.
Technicolor shareholders consider the proposals at the company’s general meeting June 20.