Indaba Capital questioned Stagwell’s desire to appoint Eli Samaha of Madison Avenue Partners to the MDC board of directors because of the obvious connection to Mark Penn – QNT Press Release

The main point that Mr. Samaha disclosed to other MDC shareholders, including Indaba, is that Madison’s main investor is a long-term friend of Mr. Payne

Emphasize that the transaction process is plagued by shocking conflicts and emerging interlocks, which bodes badly for the corporate governance of the merged entity

Indaba Capital Management LP (together with its affiliates, “Indaba” or “us”), is MDC Partners Inc. (NASDAQ:MDCA) (“MDC” or “Company”), today questioned Stagwell Media LP (“Stagwell”) announced its intention to recommend the appointment of Eli Samaha of Madison Avenue Partners (“Madison”) to the newly merged…

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