Omnicom, Publicis confirm $35B mega ad merger

Omnicom Group (OMC) and Publicis Groupe (PGPEF.PK) have confirmed that they have agreed to a 50:50 merger.

Deal will create the world's largest advertising firm with a stock market value of $35.1B and which had combined 2012 revenues of $22.7B, well above WPP's (WPPGY) $16B.

The new firm will also have over 130,000 workers.

Omnicom's John Wren, based in New York, and Publicis' Maurice Levy, based in Paris, will be co-CEOs for 30 months, after which Wren will become sole CEO and Levy will become nonexecutive Chairman.

Clients include Omnicom's AT&T, Visa and Pepsi, and Publicis' McDonald’s, Coca-Cola and Walmart . (PR)

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