The market has spoken......it is a poor deal for SGN...

The market has spoken......it is a poor deal for SGN shareholders.

SGN loses control, merging with a WPP asset that has not been subject to due diligence, and valued at a PE that would seem generous to WPP.

SGN has to pick up additional debt in this transaction and may have to raise equity capital, at a discount to currentmarket price.

SGN has taken all the pain in the last year, with substantial restructuring costs incurred. We should be entitled to expect profits to increase this year.

Why is SGN entering into a merger at this current time when the marketing and advertising spend is picking up from the low base and we have an election year coming up with large expenditure expected from the major parties.

The market must be factoring this poor merger decision in, and the share price is being hammered.

Is SGN management working for SGN shareholders or WPP????