Omnicom Group Inc. (NYSE: OMC) and Publicis Groupe (Euronext Paris:FR0000130577) today announced that they have received approval from the European Commission in connection with the pending merger of Publicis Groupe and Omnicom. The proposed merger was notified to the European Commission on November 25, 2013 and was authorized today without condition following a phase 1 review.
This approval follows previously disclosed clearances in Australia, Brazil, Canada, Colombia, India, Japan, Mexico, Russia, South Africa, South Korea, Turkey, Ukraine and the expiration of the Hart-Scott-Rodino Antitrust Improvements Act (HSR) review period in the United-States.
The approval from the European Commission, the expiration of the HSR review period in the U.S. 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 U.S. and certain European securities regulators, stock exchange listings and approval by shareholders of both companies.
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The proposed merger of Publicis Groupe and Omnicom will create a world leader in communications, advertising, marketing, and digital services, offering clients the industry’s leading talent across disciplines and geographies.