SA News • Fri, May. 9
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Fri, May. 9, 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.
Fri, Apr. 25, 3:11 AM
- WPP's (WPPGY) Q1 revenues rose 1.5% to £2.57B and comparable revenue increased a better than expected 7% despite a slowdown in China.
- The strong pound hurt WPP's performance by 8.1%
- Profits, revenue margin and gross margin or net sales margin were above budget.
- WPP, which is the world's largest advertising company, said its Q1 performance could lead to stronger FY growth than initially planned.
- Shares are +0.55% in London. (PR)
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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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