Two of the world’s marketing and communications powerhouses, Publicis Groupe and Omnicom, have today announced that they have received approval from the European Commission for their pending merger.
Last summer, Publicis and Omnicom confirmed that they are to merge to form a partnership of equals to create the Publicis Omnicom Group, which will be led by current chiefs John Wren and Maurice Levy as joint CEOs, with Levy set to step back to a non-executive role after a 30 month period.
The proposed merger was notified to the European Commission on 25 November last year and was authorised today without condition. The approval follows previously disclosed clearances in twelve other countries and the expiration of the Hart-Scott-Rodino Antitrust Improvements Act (HSR) review period in the US.
The approval from the European Commission, the expiration of the HSR review period and the clearances received in other jurisdictions satisfy some of the conditions necessary for the transaction to close.
The merger is also subject to additional regulatory approvals, including merger control approval in China, registration of the transaction with US and certain European securities regulators, stock exchange listings and approval by shareholders of both companies.
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