In a recent development, Omnicom (NYSE: OMC) and Interpublic (NYSE: IPG) have received clearance from the U.S. Federal Trade Commission (FTC) for Omnicom's proposed acquisition of Interpublic. This represents a significant milestone in the process of combining the two companies and their respective capabilities.
Omnicom's chairman and CEO, John Wren, expressed his delight at the news, highlighting that this clearance is a crucial step towards completing the proposed acquisition. The company is aiming to create a new era in which they can assist clients in growing their businesses with a comprehensive range of marketing and sales solutions, incorporating both creativity and technology.
Philippe Krakowsky, CEO of Interpublic, also emphasized the significance of this development, stating that the combined companies will be exceptionally well-positioned to meet the evolving needs of clients in a consumer and media landscape being transformed by technology and data.
The agreed consent order, which is available on the FTC's website, resulted in the 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, is home to iconic agency brands and offers a wide range of services to over 5,000 clients in more than 70 countries. The company is now looking forward to obtaining the remaining regulatory approvals and closing the transaction in the second half of this year. Following these announcements, the company's shares moved 2.02%, and are now trading at a price of $71.70. For the full picture, make sure to review OMNICOM GROUP INC.'s 8-K report.
