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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.
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