Sorrell's S4 Capital confirms it's in talks about possible acquisitions
Former WPP boss Martin Sorrell's new advertising company S4 Capital confirmed on Friday that, "as it often is", the group is in discussions with the owners of several digital marketing services businesses about a possible acquisition.
"The possible transaction, if consummated, would be in line with the company's stated strategy of creating a new era, new media solution embracing data, content and technology in an always-on environment for global, multi-national, regional and local clients and for millennial-driven digital brands," it said.
S4 said there can be no certainty that a deal will occur nor as to the terms of any possible transaction. Further announcements will be made as appropriate.
The statement followed a report in The Financial Times suggesting that Sorrell is close to buying San-Francisco-based advertising group Mightyhive in a deal that could value the business at up to $200m.
At 0845 GMT, the shares were up 4% to 122.25p.