Two sides had informal conversations about a merger on multiple occasions.
In an internal memo, M&C Saatchi's worldwide chief executive points to the strengths of the beleaguered business. Campaign publishes it in full here.
Three of top six offices for the agency are in the region, and they continue to win new business and add headcount, according to the agency's Asia head.
Allies say founders 'are not going to abandon ship before they set it right'.
Investigation into accounting errors by PwC also found 2018 half-year reported profit was adjusted by about $8.3 million.
Watch the commercials conceptualised by Scarecrow M&C Saatchi here
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