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Wells Fargo Upgrades The Interpublic Group of Companies(IPG.US) to Hold Rating, Raises Target Price to $34
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Express News | Omnicom Group will acquire Interpublic Group.
Omnicom agreed to acquire Interpublic for 13 billion dollars, becoming the largest global advertising company.
Gelonghui, December 10 | The usa large advertising and public relations company Omnicom Group has agreed to acquire the smaller peer Interpublic Group for 13 billion dollars. According to the agreement, the acquisition will be conducted through a stock swap, with each share of Interpublic exchangeable for 0.344 shares of Omnicom. Based on last Friday's closing price, Omnicom's acquisition cost is approximately 13 billion dollars. After the trade is completed, Omnicom's original shareholders will hold 60.6% equity. The merged company will continue to operate under the Omnicom name. In terms of revenue, Omnicom and Interpublic are the global third and first largest respectively.