Omnicom to buy Interpublic, creating ad agency giant with nearly $26 billion in annual revenue ...Middle East

Omnicom is buying Interpublic Group in a stock-for-stock deal that will create an advertising powerhouse with combined annual revenue of almost $26 billion. Shareholders of The Interpublic Group of Companies Inc. will receive 0.344 Omnicom shares for each share of Interpublic common stock that they own. Omnicom shareholders will own 60.6% of the combined company and Interpublic shareholders will own 39.4% after the transaction is complete. The combined company will keep the Omnicom name and trade under the “OMC” ticker symbol on the New York Stock Exchange. The deal is expected to have annual cost savings of $750 million. The transaction is targeted to close during the second half of next ye

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