The London-based holding company issued a statement on its Web site saying that it had called off talks before a definitive agreement had been reached with either company. The statement also noted that the board "believes that the interest of both shareholders and the business are best served by remaining as an independent group at the present time."
"We believe shareholder value is best developed at this stage by following the expansion plans we already have in place and we stated at our half year results recently that acquisitions were identified and bank finance available to undertake them," Will Whitehorn, chairman of Next Fifteen, told PRWeek via e-mail.
Tim Dyson, CEO of Next Fifteen, previously told PRWeek that the company had “always believed our interests are better pursued being independent, but having said that, if you're approached as a public company you have to look at these offers.”
Next Fifteen agencies include Text 100, Bite Communications, OutCast Communications, Lexis PR, Redshift Research, Context Analytics, and 463 Communications.