CCI approves proposed acquisition of The Interpublic Group of Companies, Inc. by Omnicom Group Inc.

NEW DELHI (INDIA): The Competition Commission of India has approved the proposed acquisition of The Interpublic Group of Companies, Inc. by Omnicom Group Inc.

The proposed combination relates to the acquisition of sole control of The Interpublic Group of Companies, Inc. (IPG) by Omnicom Group Inc. (Omnicom). Under the Merger Agreement, EXT Subsidiary Inc. (Omnicom Merger Sub) (a wholly owned subsidiary of Omnicom) will be merged with and into IPG. Omnicom Merger Sub will cease to exist and IPG will remain the surviving entity as a wholly owned subsidiary of Omnicom (Proposed Combination).

Omnicom is a New York based provider of marketing and sales solutions. Omnicom comprises an inter-connected global network of marketing and communications companies offering a diverse, comprehensive range of marketing solutions spanning brand advertising, customer relationship management, media planning and buying services, public relations and numerous specialty communications services.

Omnicom Merger Sub is a wholly owned subsidiary of Omnicom incorporated under the laws of Delaware specifically for the purpose of the Proposed Combination.

IPG is a Delaware based company engaged in provision of media buying and planning services, data and engagement solutions, integrated advertising and creativity solutions, public relations and specialized communications and experiential solutions.

Detailed order of the Commission will follow.

Source: PIB