Bell Pottinger Founders Buying Firm from Chime
Bell Pottinger founders Lord Bell and Piers Pottinger (also the names of my neighbor’s cats!) and other firm execs plan to pay £19.6 million in cash and company shares to purchase the namesake firm from Chime Communications. Shareholders will have their say on June 18. Talk about a buyout started a few months ago.
Shares of Chime stock increased nearly 10 percent with the news, though Sir Martin Sorrell, the WPP CEO whose company is the largest shareholder in Chime, is opposed.
Chime plans to refocus on sports marketing and its advertising business VCCP.
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