NEWS11 February 2013

Dentsu’s Aegis takeover date pushed back as China talks continue

Asia Pacific M&A UK

UK/CHINA — Dentsu’s £3.2bn takeover of Aegis is likely to be delayed as Chinese regulators take longer than expected to approve the deal.

In an update this morning, the companies said that discussions with China’s Ministry of Commerce (Mofcom) “are at an advanced stage”.

“However,” they said, “in light of the Chinese New Year holiday and with a view to allowing Mofcom to complete its review period in the ordinary course, Dentsu and Aegis have agreed… to extend the long-stop date for the acquisition from 28 February 2013 to 28 March 2013.”

The deal, first announced in July, will see Japanese ad giant Dentsu acquire Aegis’s media services businesses along with its Aztec retail scan data business and the Aevolve marketing effectiveness company.

The takeover has received clearance from all relevant national and regional competition authorities except Mofcom.

Pictured is Aegis CEO Jerry Buhlmann.

0 Comments