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Staying put: Sir Martin Sorrell
Shares in Sir Martin Sorrell’s S4 Capital rose 5.4 per cent after he said he had rejected several offers from a New York rival.
The advertising mogul, who founded the agency in 2018 after leaving giant WPP, reportedly turned down offers from Stagwell because they undervalued the company.
The revelations come amid concerns about the risk of foreign bidders pounced on companies with low valuations.
London-listed toilet roll maker Accrol yesterday accepted a £127.5 million takeover offer from Portuguese rival Navigator Paper.
US private equity giant KKR has confirmed its £1.3 billion takeover of Glasgow-based Smart Metering Systems.
And US activist investor Elliot Investment took a 5 per cent stake in investment firm Scottish Mortgage.
In December, Sorrell warned that London risked “becoming a backwater”.