May. 9, 2014, 3:20 AM
- As expected, advertising giants Omnicom (OMC) and Publicis (PUBGY) have called off their $35B merger, citing "difficulties in completing the transaction within a reasonable time frame."
- Numerous problems had beset the "merger of equals," including obtaining tax and other regulatory approvals, differences over which executives would take leading positions - particularly the job of CFO - and which company would be listed as the legal acquirer of the other.
- No termination fees are being paid by either side.
- The ending of the merger leaves WPP (WPPGF) as the world's largest advertising company.
WPPGF vs. ETF Alternatives
WPP Group is engaged in the provision of communications services. These services include advertising; media investment management; information, insight and consulting; public relations and public affairs; branding and identity; healthcare communications; direct, promotion and relationship... More
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