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| Mark Penn |
MDC Partners today adjourned its June 22 special meeting of shareholders to vote on its combination with Mark Penn’s Stagwell Media LP until July 19.
Shareholders now have until July 15 to weigh in on the deal that is opposed by Indaba Capital Management, MDC’s largest independent stockholder, which criticized the transaction as a “conflict-riddled and poorly structured merger.”
The San Francisco hedge fund owns about 15 percent of MDC’s shares.
Penn, who also helms MDC, claims the merger will create a “transformative global marketing network” blessed with “best-in-class capabilities.”
He says the Stagwell/MDC mash-up will be “the first platform in 50 years ready to take on the ‘big four’ that dominate the industry.”
MDC is the home of PR firms Allison+Partners, Hunter and KWT Global, while Stagwell owns Sloane & Co and SKDKnickerbocker.
Teneo handles Bamboo Insurance Services as the Midvale, UT-based marketer of homeowner policies files a Form S-1 statement with the SEC for an initial public offering.
FTI Consulting handles West Marine as the nation’s leading retailer of marine parts and accessories for boating, fishing and sailing enthusiasts emerges from Chapter 11 bankruptcy.
Throughline Global Advisors represents Principal Mineral as it acquires Conductive Group, manufacturer of advanced materials for the aerospace, telecommunications and electronics sectors.
Trump Media & Technology Group posted a $238M Q2 loss on $1.7M in revenues. That performance compares to a $20M loss and $883K revenues in the 2025 comparable quarter.
The Brand Amp represents Archer Aviation as it acquires Boeing’s $200M flying-taxi operation in return for a 20 percent stake in the Silicon Valley startup.
