Shareholders at WPP today approved the acquisition of Young & Rubicam, which will create the world’s largest advertising agency. The $4.7bn takeover deal was confirmed in May this year (see WPP Buys Young & Rubicam For $4.7bn).
WPP is issuing 0.835 new American Depositary Receipts for each Young & Rubicam share. It is expected completion of the merger will occur shortly.
WPP: 020 7408 2204
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