Deals & Suits
Publicis Groupe SA
Omnicom Group Inc.
Publicis Groupe SA and Omnicom Group Inc. shook up a sleepy summer weekend by announcing on July 28 that they would merge to form the world's largest advertising agency. The combined Publicis Omnicom Group (POG) would have a market capitalization of around $35 billion and annual revenues of $23 billion. POG would control $11 billion in U.S. ad revenue, more than a third of the $30 billion spent annually. The two companies billed the deal as a merger of equals, and each set of shareholders will own 50 percent of the combined entity. Publicis shareholders will receive one POG share and €1 for each of their shares, while Omnicom stockholders will get 0.813 POG shares per Omnicom share. Both companies' stock fell slightly on the news.
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