December 9, 2024
Willkie is representing longstanding client Interpublic Group (NYSE: IPG) in its acquisition by Omnicom (NYSE: OMC) in a stock-for-stock transaction that would create a premier marketing and sales company.
On December 9, Omnicom and The Interpublic Group announced that they have signed a definitive agreement pursuant to which Omnicom will acquire Interpublic in a stock-for-stock transaction. The combined company is expected to bring together a deep bench of marketing talent and broad and innovative services and products, underpinned by an advanced sales and marketing platform, to position the new entity for continued growth in a new era of marketing.
Under the terms of the agreement, Interpublic shareholders will receive 0.344 Omnicom shares for each share of Interpublic common stock they own. Following the close of the transaction, Omnicom shareholders will own 60.6% of the combined company and Interpublic shareholders will own 39.4%, on a fully diluted basis. The transaction is expected to generate annual cost synergies of $750 million.
The stock-for-stock transaction is expected to close in the second half of 2025, subject to Omnicom and Interpublic shareholder approvals, required regulatory approvals, and other customary conditions. The combined company will retain the Omnicom name and trade under the OMC ticker symbol on the New York Stock Exchange. Omnicom and Interpublic Group had a combined 2023 revenue of $25.6 billion.
Willkie previously advised Interpublic Group, a global provider of marketing solutions, on numerous transactions, including its sale of Huge to AEA investors on December 5, and its $2.3 billion acquisition of data marketing company Acxiom Marketing Solutions in 2018.
The Willkie team is led by partners Danielle Scalzo and Laura Acker and included partners Samir Patel and Jordan Messinger.
