Omnicom Cleared for Acquisition of Interpublic

By Philip Seaworth • Tuesday, June 24 15:21 • Permanent Link

Omnicom (NYSE: OMC) and Interpublic (NYSE: IPG) have announced that the U.S. Federal Trade Commission (FTC) has completed its antitrust review of Omnicom's proposed acquisition of Interpublic. The companies have reached an agreement with the FTC on a mutually acceptable consent order, marking a significant regulatory milestone for the transaction.

Omnicom's Chairman & CEO, John Wren, expressed delight at the news, emphasizing the importance of this step towards completing the proposed acquisition. He highlighted the potential to create a new era in which the companies can offer clients a comprehensive range of marketing and sales solutions, integrating creativity and technology.

Interpublic's CEO, Philippe Krakowsky, also commented on the development, noting that the news represents a notable step forward in the process of combining the companies. He emphasized the potential for the combined entity to be exceptionally well-positioned to meet the evolving needs of clients in a consumer and media landscape transformed by technology and data.

As part of the agreement, the FTC granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. The consent order is now subject to a 30-day public comment period and then final acceptance by the FTC.

Omnicom, a leading provider of data-inspired, creative marketing and sales solutions, offers a wide range of services in advertising, strategic media planning and buying, precision marketing, retail and digital commerce, branding, experiential, public relations, healthcare marketing, and other specialty marketing services to over 5,000 clients in more than 70 countries.

The companies continue to look forward to obtaining the remaining regulatory approvals and closing the transaction in the second half of this year, consistent with their initial expectations when the acquisition was announced. As a result of these announcements, the company's shares have moved 0.63% on the market, and are now trading at a price of $24.585. If you want to know more, read the company's complete 8-K report here.

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