New York, USA – Omnicom has completed its acquisition of The Interpublic Group of Companies, forming what the company describes as the world’s leading marketing and sales organisation. The deal closed following regulatory approvals and the fulfilment of other conditions, the company said on Wednesday.
It should be noted that the merger follows almost a year after news of the proposed merger was first confirmed by Omnicom.
The combined business brings together a broad portfolio of capabilities supported by Omni, Omnicom’s data and intelligence platform. According to the company, the integration aims to reshape how data, creativity and technology work together to support clients’ growth strategies.
“This is a defining moment for our company and our industry,” said John Wren, chairman and CEO of Omnicom. “With the completion of the deal, Omnicom is setting a new standard for modern marketing and sales leadership — creating stronger brands, delivering superior business outcomes, and driving sustainable growth. We’re excited about this next chapter. I want to thank our people, clients, and shareholders for the trust they have placed in us.”
Under the terms of the acquisition, Interpublic shareholders received 0.344 Omnicom shares for each Interpublic share held. The new entity is owned 60.6% by legacy Omnicom shareholders and 39.4% by legacy Interpublic shareholders on a fully diluted basis. Pro forma combined revenue exceeds US$25 billion. The company will continue trading on the New York Stock Exchange under the OMC ticker.
As previously announced, Wren continues as chairman and CEO, with Phil Angelastro remaining EVP and CFO. Philippe Krakowsky and Daryl Simm serve as Co-Presidents and COOs. Krakowsky, Patrick Moore and E. Lee Wyatt Jr. have also joined the Omnicom board. The full leadership team is expected to be announced on December 1.
Earlier this month, the European Commission announced that it had approved the merger, concluding that the deal does not raise competition issues under the EU Merger Regulation. Meanwhile, the Australian Competition and Consumer Commission (ACCC) has come out publicly back in July this year and say that it ‘will not oppose’ the acquisition.
