WPP and Sir Martin Sorrell in a bid war

According to international media reports, Sir Martin Sorrell and WPP has entered a new phase, as the two parties go to war in a bid for control of Dutch agency MediaMonks.

Through his investment vehicle S4 Capital, Sir Sorrell is currently in takeover negotiations for the company in direct competition with the agency network he built, prompting WPP to warn that a £20m payoff comprising share awards is now in threat unless he walks away. Declaring that any breach of his exit agreement would result in the forfeiture of any outstanding monies owed, WPP issued the threat by way of its lawyers, Slaughter & May.

According to a leading publication, Sir Sorrell was a admirer of MediaMonks during his days at WPP, when he was an investor in digital content business Vice Media.