Advertising giants Publicis and Omnicom have reportedly abandoned their $35 billion merger plans, a source said.
According to reports, US-based Omnicom and France-based Publicis have decided to abandon plans to merge and create the world’s largest advertising conglomerate nearly one year after the companies first announced plans to combine. The deal would have surpassed WPP Plc as the world’s largest advertising firm.
Earlier reports had emerged that the companies could not disagree on certain terms of the deal, including who would be the technical acquirer and become the company’s new chief financial officer, despite the fact the firms considered the deal a merger of equals.
The companies did not confirm reports that the merger has now been called off.
Full content: NBC News
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