Omnicom to Acquire Interpublic Group in Deal That Will Reshape Advertising Industry -- WSJ

Dow Jones

Dec 09, 2024

By Gareth Vipers

Omnicom Group will acquire Interpublic Group, the companies confirmed, in a deal that will create the world's largest advertising business.

Under the all-stock deal, Omnicom would exchange 0.344 shares for each Interpublic share, with Omnicom shareholders owning 60.6% of the combined company.

A combined entity would have net revenue of more than $20 billion, based on 2023 figures for each company. The deal is expected to generate cost synergies of $750 million.

The Wall Street Journal reported Sunday that the companies were in advanced merger talks.

"This strategic acquisition creates significant value for both sets of shareholders by combining world-class, highly complementary data and technology platforms enabling new offerings to better serve our clients and drive growth," Omnicom Chairman John Wren said in a statement Monday.

Updates to follow as news develops.

Write to Gareth Vipers at gareth.vipers@wsj.com

(END) Dow Jones Newswires

December 09, 2024 07:52 ET (12:52 GMT)

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