Staff Reporters
May 9, 2014

It's official: Publicis and Omnicom call off merger

To the surprise of very few given the rumours that have been circulating in recent weeks, Publicis and Omnicom have announced the termination of their proposed merger.

A photo from the announcement of the merger in July 2013
A photo from the announcement of the merger in July 2013

Update: Please see our followup story, with exclusive comments from WPP's Sir Martin Sorrell and Nick Waters of Dentu Aegis Network: Publicis-Omnicom rivals lament merger's failure

A statement from the companies said the decision was a "mutual agreement, in view of difficulties in completing the transaction within a reasonable timeframe".

The would-be bedfellows walk away from the situation unscathed, as they have released each other from all obligations, and no termination fees will be payable by either party, according to the statement.

The management board and the supervisory board of Publicis Groupe and the board of directors of Omnicom approved the termination unanimously, the statement said.

"The challenges that still remained to be overcome, in addition to the slow pace of progress, created a level of uncertainty detrimental to the interests of both groups and their employees, clients and shareholders. We have thus jointly decided to proceed along our independent paths. We, of course, remain competitors, but maintain a great respect for one another," Maurice Lévy, chairman and chief executive officer of Publicis Groupe, and John Wren, president and chief executive officer of Omnicom Group said in a joint statment.

 

Related Articles

Just Published

40 minutes ago

Change baby's diaper to avoid mythical monsters

A BBDO campaign for Sweety mines Indonesian folklore to create three grouchy little monsters akin to babies suffering from diaper rash. Also, don't miss the funny radio ads.

1 hour ago

Why Chow Tai Fook sees opportunity in rural China ...

The jewellery retailer sees very similar online consumption trends in rural and urban customers, and says rural stereotypes are oversimplified.

1 hour ago

Watch this brand new house get bombarded with fire, ...

Australian insurer Suncorp, along with Leo Burnett and several other partners, built 'One house to save many' in an effort to prototype building technologies as resilient as the people of Australia.

1 hour ago

Move and win roundup: Week of April 19, 2021

Gusto Luxe, Aesop, Ripple8, GHC Asia, WATG, Effie APAC, and more, in our weekly collection of people moves and account news.