On Monday, November 24 2025, the European Commission announced that it had granted unconditional antitrust approval for Omnicom Group Inc.’s all‑stock acquisition of Interpublic Group of Companies, Inc. The deal, valued at $13.25 billion, is now cleared to close on Wednesday, November 26, 2025, after the Commission confirmed that the combined entity would not create significant anti‑competitive effects in the EU market.
The approval removes the final regulatory hurdle and allows Omnicom to finalize integration plans, unlock an estimated $750 million in annual cost synergies, and expand its media and healthcare capabilities. The transaction is structured as a 0.344‑to‑1 share swap, giving Interpublic shareholders 0.344 Omnicom shares for each IPG share. John Wren, Omnicom’s chairman and CEO, said the merger will create the world’s leading marketing and sales company, while Philippe Krakowsky, IPG’s CEO, will become co‑president and COO of the combined entity.
Omnicom’s Q3 2025 results provide context for the deal. Revenue rose 4.0% to $4.04 billion, driven by a 9.1% increase in Media & Advertising and a 2.0% rise in Execution & Support, offset by declines in Healthcare, Public Relations, Experiential, and Branding & Retail Commerce. Net income fell 11.6% to $341.3 million because of $60.8 million in acquisition‑related costs and $38.6 million in repositioning expenses, which compressed operating margin. Nevertheless, non‑GAAP adjusted diluted EPS of $2.24 beat the consensus estimate of $2.16 by $0.08 (3.7%), reflecting strong underlying profitability once one‑time charges are excluded. The company’s revenue beat expectations by $0.02 billion, a modest but meaningful lift.
Interpublic’s Q3 2025 performance was mixed. Revenue declined 5.0% to $2.14 billion, largely due to a 5% year‑over‑year drop in billable expenses, while net income surged to $124.2 million, a 5.8‑fold increase from the $20.1 million reported in Q3 2024. The sharp profit rise was driven by aggressive cost‑cutting and operational streamlining, but the revenue miss of $0.1 billion (or $0.01 EPS miss depending on the estimate used) highlights ongoing headwinds in client demand and market share erosion. Interpublic’s adjusted EBITA fell 37% to $242.8 million from $385.3 million a year earlier, underscoring the impact of the restructuring program that preceded the merger.
The merger is positioned to reshape the advertising landscape by creating a scale that can compete with technology platforms and AI‑driven marketing solutions. The combined entity will leverage Omnicom’s data assets and Interpublic’s agency network to deliver integrated media, creative, and technology services. Management emphasized that the $750 million in annual synergies will be realized through back‑office consolidation, offshoring of non‑core functions, and the elimination of overlapping agencies. John Wren noted that the deal will “enable the world’s leading marketing and sales company” to deliver revenue growth, operational efficiency, and free cash flow, while Philippe Krakowsky highlighted the opportunity to build unified capability pools across disciplines.
The approval also signals confidence from EU regulators that the combined company will maintain sufficient competition and client choice, a key concern given the dominance of tech platforms in the advertising ecosystem. The transaction aligns with Omnicom’s strategy to strengthen its data, media, and technology capabilities and positions the combined firm to capture growth in high‑margin digital and healthcare advertising markets.
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