Shares in M&C Saatchi surged in London after reports the advertising agency is speaking to boutique mergers and acquisition advisers Clarity.
The report in the London Sunday Telegraph talked of a possible strategic overhaul of the company.
The shares closed 6.51% higher at 180.00 pence on Monday. On Tuesday they dropped back 1%.
"The Conservative Party’s favourite advertising agency M&C Saatchi is in talks with advisers about a strategic overhaul after the discovery of accounting irregularities triggered a collapse in its share price," reported the Telegraph.
The company's shares fell by half in August after deciding, following an accounting review, to take a one-off exceptional charge of £6.4 million to the 2019 results.
The latest results show M&C Saatchi's operating profit down in the first half of the year. The company expects full year profit to be down on expectations by 5% to 10%.
The company also reported an accounting review by PwC which is expected to lead to a restatement of 2018 results.
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