Omnicom Group Inc. and The Interpublic Group of Companies, Inc. (IPG) have announced the results of the early participation in exchange offers and consent solicitations. As of the early tender date of August 22, 2025, Omnicom received valid tenders and consents from eligible holders of IPG notes, constituting a majority noteholder consent for each series of existing IPG notes.
The breakdown of the tendered IPG notes is as follows: For the 4.650% notes due 2028, $448,348,000 was tendered, constituting 89.67%. For the 4.750% notes due 2030, $586,445,000 was tendered, constituting 90.22%. For the 2.400% notes due 2031, $456,839,000 was tendered, constituting 91.37%. For the 5.375% notes due 2033, $276,569,000 was tendered, constituting 92.19%. For the 3.375% notes due 2041, $493,860,000 was tendered, constituting 98.77%. For the 5.400% notes due 2048, $487,848,000 was tendered, constituting 97.57%.
The total aggregate principal amount outstanding of the existing IPG notes is $2,950,000,000, out of which $2,749,909,000 was tendered, constituting 93.22%.
IPG has executed a supplemental indenture to effect the proposed amendments approved in the consent solicitations. The proposed amendments will become operative upon the settlement date, subject to certain conditions, including the completion of Omnicom’s pending transaction to acquire IPG.
Eligible holders of existing IPG notes who participated in the exchange offers and consent solicitations will receive new Omnicom notes and cash, with the total exchange consideration including a consent payment. The settlement date is expected to be within two business days after the expiration date, and Omnicom may extend the expiration date if the completion of the merger is not anticipated to occur by that time.
Omnicom is making the exchange offers and consent solicitations to eligible holders, and the new Omnicom notes have not been registered under the securities act or any state or foreign securities laws.
The exchange offers and consent solicitations are expected to result in reduced liquidity for the existing IPG notes that are not exchanged, and the proposed amendments to the existing IPG indenture will reduce protection to remaining holders of existing IPG notes.
Omnicom has engaged several financial institutions as lead dealer managers and solicitation agents for the exchange offers and consent solicitations.
Following these announcements, the company's shares moved -0.7%, and are now trading at a price of $27.07. For more information, read the company's full 8-K submission here.
