Publicis, Omnicom to merge to create world’s biggest ad firm

Monday, 29 July 2013 00:00 -     - {{hitsCtrl.values.hits}}

Reuters: Publicis and Omnicom unveiled plans to merge the French and US companies on Sunday to create the world’s biggest advertising group, worth $ 35.1 billion. Publicis and Omnicom shareholders will each hold approximately 50% of the new company’s equity in the deal, which the companies presented as a “merger of equals”. Publicis said the transaction was expected to create “significant value for shareholders”, with expected synergies of $ 500 million. The merged group would keep its head offices in Paris and New York, it added. Publicis said the deal, which had been unanimously approved by the boards of both companies, was expected to close in the fourth quarter of 2013 or the first quarter of 2014.