Promoting and advertising and marketing conglomerate Omnicom Group is in superior talks to amass Interpublic Group in an all-stock deal that’s more likely to worth Interpublic at between $13 billion and $14 billion, excluding debt, the Wall Road Journal reported Sunday.
A transaction, would mark the largest deal to this point on Madison Avenue, might be introduced as early as this week, the report stated, including that the precise phrases of the deal being mentioned couldn’t be discovered.
Omnicom and Interpublic didn’t instantly reply to Reuters’ requests for remark exterior of enterprise hours.
New York-based Omnicom competes with the Interpublic Group of Firms and UK’s WPP, and is without doubt one of the world’s largest built-in promoting and communications companies with greater than 5,000 clients.
Interpublic, which has purchasers in sectors starting from healthcare to retail, had a market worth of round $10.9 billion as of Friday and its shares have fallen 10% yr to this point to $29.48.
