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EU Approves Omnicom's Acquisition of IPG
The European Commission cleared the $13.2 billion all-stock deal as unlikely to raise competition concerns and expects $750 million in cost savings.
- On Nov. 24, the European Commission approved Omnicom Group's $13.2bn all-stock acquisition of Interpublic Group unconditionally, with the deal expected to close globally soon.
- The European Commission concluded the transaction would not raise competition concerns in the European Economic Area after about a month of investigation following notification in October this year, noting rivals like WPP, Dentsu-Aegis, Publicis and Havas.
- IPG has cut 3,200 employees this year, and Omnicom projects its media offerings could expand 50% to 60% with IPG; together they own major agency brands like BBDO, TBWA, McCann and Deutsch.
- If completed, the takeover will create the world's largest advertising network by revenues, and Omnicom is expected to remove agency brand names from the combined portfolio.
- The merger underscores the consolidation trend and includes regulatory steps like an FTC consent order and prior clearances from the U.K. CMA and U.S. regulator FTC.
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Omnicom and Interpublic receive unconditional clearance from the European Commission
Omnicom Group Inc. and The Interpublic Group of Companies, Inc. have announced that the European Commission has granted antitrust approval for Omnicom’s acquisition of IPG, marking the last regulatory clearance required to complete the transaction. The companies expect to close the transaction by th
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