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| Mark Penn |
Shareholders of MDC Partners today approved the merger with Stagwell Media during their special meeting.
The combined company will be called Stagwell Inc. and trade on the NASDAQ, once the transaction is completed on Aug. 2.
Mark Penn, MDC CEO and Stagwell Group managing director, thanked shareholders for recognizing the merger “as a unique opportunity to create a new marketing machine that can transform the industry and create enhanced opportunities for growth and value in the marketplace."
Stagwell Inc. will house Allison+Partners, Hunter and KWT Global, Sloane & Co and SKDKnickerbocker.
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
