By Reuters
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LONDON – British advertising group M&C Saatchi said on Friday the Financial Conduct Authority has closed an investigation into the company and that no enforcement action would be taken.
The firm, which earlier this month said it did not see much merit in a possible all-share takeover instigated by its biggest investor, software entrepreneur Vin Murria, also upgraded its profit outlook.
It said that as a result of a strong end to the year, full year 2021 headline profit before tax will be materially ahead of its previous expectations. It added that momentum has continued into the start of 2022 with major client wins, helping it to settle put option liabilities when they fall, and resume dividend payments.
