Ad group S4 Capital entered merger talks with marketing agency MSQ Partners .

U.K.-based S4, led and founded by industry veteran Martin Sorrell , confirmed the news, saying in a statement, “These discussions are at a very preliminary stage, and there can be no certainty that a transaction will be forthcoming.”

According to Reuters , S4 shares jumped 14% as a result of the news, providing a much-needed boost to its stock price, which has fallen as much as 98% from its September 2021 highs, and giving the company a market value of £140 million ($187.7 million).

Sorrell formed S4 in May 2018 and quickly began acquiring and merging creative, data, and services agencies together into what is now a 9,000-person team. However, he is best known for building WPP into a creative behemoth.

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