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

12 hours ago

Mindshare adds dedicated China leadership

EXCLUSIVE: APAC CEO Amrita Randhawa has relinquished her China responsibilities to two new leaders, Benjamin Condit and Linda Lin.

12 hours ago

Pinterest unveils new tools and insights for marketers

Major takeaways from the platform’s first global advertiser summit.

12 hours ago

Crash Course: How to develop a content strategy

You know content should be a key part of your overall brand strategy, but where do you start? This course explains the key steps you should take to ensure an effective content journey.

13 hours ago

The unlimited potential of live storytelling in ...

Brands like Standard Chartered, Uber Eats and Mastercard achieve impact by marrying human emotions with the unpredictability and excitement of live sports.