Monday, November 24th1.7°C
22246
22916

Advertising giants Omnicom and Publicis call off $35-billion merger

NEW YORK, N.Y. - Omnicom Group and Publicis Groupe say they have scrapped their merger plans that would have created the world's largest advertising firm.

The companies issued a joint statement late Thursday saying they mutually agreed to call off the US$35-billion deal announced in July because they were not able to complete the merger in a reasonable time frame.

They did not give details, but the Wall Street Journal reported that issues included getting tax and regulatory approvals, and debates over which company would be listed as the acquirer of the other.

Omnicom Group Inc., based in New York, owns BBDO Worldwide, DDB Worldwide Communications Group and TBWA Worldwide, among other agencies.

Paris-based Publicis Groupe SA runs its namesake agency as well as Leo Burnett Worldwide, Saatchi & Saatchi, and DigitasLBi.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX15047.84-63.62
S&P CDNX788.75-0.38
DJIA17801.20-8.86
Nasdaq4744.192+31.222
S&P 5002067.19+3.69
CDN Dollar0.8853-0.0043
Gold1196.80-0.8999
Oil76.70+0.19
Lumber333.40+2.40
Natural Gas4.132-0.134

 
Okanagan Companies
Pacific Safety0.165+0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.32+0.02
Cantex0.04+0.005
Anavex Life Sciences0.18+0.002
Metalex Ventures0.03+0.005
Russel Metals31.33-0.29
Copper Mountain Mining2.17-0.07
Colorado Resources0.13+0.005
ReliaBrand Inc0.0135+0.0005
Sunrise Resources Ltd0.04-0.01
Mission Ready Services0.33-0.02

 
24130


23630

FEATURED Property
2122382213-2377 Shannon Woods Drive
2 bedrooms 2 baths
$369,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


The last great Canadian tax shelter

A guide to how flow-through fund limited partnerships can mightily aid your tax planning!The end of the year will raise concerns among many professionals, self-employed persons, business owners and ev...


What I learned in China: Part 2

As per my previous article on my visit to China, we have much to learn about and from their people. It is potentially the largest market on earth with 1.3 billion people in one country but much will d...


Retirement: Health Issues

Our health is really our greatest asset and maintaining our health is of tremendous importance. You want to do what you can to ensure that health issues will not jeopardize the enjoyment of your retir...

_



24207

24158


Member of BC Press Council


24018