Next Fifteen Communications Group PLC (AIM:NFC) said competition and regulatory approvals have been received for its acquisition of M&C Saatchi PLC (AIM:SAA).
After receiving written notification from the US Committee on Foreign Investment in the United States that it has concluded its review in respect of the offer, the marketing group said the regulatory condition of the takeover has now been satisfied.
This was the final regulatory approval that had remained outstanding, meaning that the meeting for M&C Saatchi shareholders to vote on the offer can now take place.
Approvals were received under each of the UK national security act and the Australian foreign investment regulatory framework, with Next 15 noting that the UK Competition & Markets Authority had responded to a briefing paper submitted by the company, confirming it had no further questions and has "not otherwise opened an inquiry, or indicated in writing that it is still investigating whether to open an inquiry".
At the end of September a rival offer from ADV lapsed.