Advertising Giants Unite: Omnicom Acquires Interpublic Group

Omnicom has agreed to acquire Interpublic Group in a significant stock-for-stock transaction, forming a major advertising conglomerate with combined revenue nearing USD 26 billion. The merger, expected to finalize next year, grants Omnicom shareholders majority ownership and anticipates cost savings of USD 750 million annually.

Omnicom has announced a groundbreaking acquisition of Interpublic Group in a stock-for-stock deal set to forge an advertising behemoth with nearly USD 26 billion in annual revenue.

Upon completion, Omnicom shareholders will control 60.6% of the new entity, with Interpublic shareholders holding 39.4%.

The merged company will continue under the Omnicom name and trade on the NYSE as 'OMC'. Anticipated annual savings rise to USD 750 million, with the transaction closing in the latter half of next year pending shareholder approvals.

Investors reacted strongly Monday; Interpublic shares surged over 15%, while Omnicom shares dipped over 2%.

(With inputs from agencies.)