Tokyo-based advertising behemoth Dentsu has made a takeover offer for Aegis Group in a bid to become Asia Pacific's largest media group.
Reuters reported the deal is said to be worth US$5 billion. In addition to its much-enlarged scale in APAC, the merged group would be the second largest in Western Europe.
Harold Mitchell, executive chairman of Aegis Media in Australia and New Zealand, said: “This is a rare opportunity to combine two world-class businesses with aligned visions and strategies and complementary client, geographic and product portfolios, to the benefit of shareholders, clients and our people.”
“Locally for us in Australia and New Zealand, it is business as usual for the group that’s already the largest in the region. The combined group, with aligned visions and strategies, will deliver continuity and stability for our clients and people, whilst providing us with increased global strength.”
“Myself and our management team are fully supportive of this proposal and are very focussed on ensuring the benefits and opportunities are captured for all our stakeholders and especially for our people and our clients.”
Two years ago, Aegis Group acquired Mitchell Communication Group in a deal worth $363 million.
The offer will need to be approved by Aegis shareholders and its expected to be finalised in the fourth quarter of 2012.
Aegis companies in Australia include Mitchell & Partners, Carat, Vizeum, MPG, Visual Jazz Isobar and more.
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