New York based Omnicom and Paris based Publicis have signed (.pdf) a definitive agreement for a merger and the Publicis Omnicom Group claims that it will have a combined equity market capitalization of approximately $35.1 billion. Note that the transaction is subject to approval by the shareholders of both the companies and subject to receive regulatory approvals, however, the merger has been approved by board of directors of both the companies. The company expects to close the deal in the fourth quarter of 2013 or the first quarter of 2014. After the merger, the combined group will have more than 130,000 employees. Besides this, Publicis Omnicom Group will be restructured and the CEOs of both the companies will lead the company as co-CEOs for 30 months, following which Maurice Lévy, Chairman and CEO of Publicis Groupe will become non-executive chairman and John Wren, CEO of Omnicom will continue as CEO. The Publicis Omnicom Group will have a single-tier board with 16 members. The combined entity will trade under OMC ticker on the New York Stock Exchange and Euronext and the holding company will be based in Netherlands. In India, the Publicis Omnicom Group would include advertising agencies such as Publicis India, Publicis Capital, Publicis Ambience, Saatchi & Saatchi, Leo Burnett, BBH India, StarcomMediaVest, Zenith Optimedia, Vivaki, TBWA, RK Swamy BBDO, DDB Mudra, BBDO India, Mudra Max, OMD and Proximity, as indicated by Firstpost. What They’re Saying Anant Rangaswami from FirstPost is of the opinion that Publicis, in India, has been on an aggressive mood by…
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
News
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
Advert
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
News
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
News
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...