Martin Sorrell Has A Startling Business Plan For His Agency: Disintermediating His Old Firm [Forbes]
WPP plc American Depositary Shares (WPP)
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Source: Forbes
When Sir Martin Sorrell left Saatchi & Saatchi as its Finance Director more than 30 years ago, he took over the publicly traded Wire and Plastic Products plc, a tiny manufacturer of shopping carts. He eventually built what became known as WPP , as the biggest ad firm in world, with hundreds of companies, and 190,000 employees in 3,000 offices and 112 countries. This created a daunting complexity of companies that would rather compete for a shrinking ad pie than collaborate with each other. His deal-making and acquisition spree would eventually burden WPP with a significant debt load. Sorrell left, or was nudged out, of WPP in April. However, a month later the 73-year old reemerge with a new firm. The template is the same as it was 30 some odd years ago with WPP: First, Sir Martin has formed a new investment vehicle, S4 Capital, which got access to the stock market through a reverse merger with a listed company. S4 Capital has raised £51 million, most of it Sorrell’s, and annou
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WPP
Sec Filings
- 4/5/24 - Form SC
- 4/2/24 - Form 6-K
- 3/21/24 - Form 6-K
- WPP's page on the SEC website