Omnicom Group and Publicis Groupe have cleared the waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976, as amended, has expired in connection with the previously announced merger of Publicis Groupe and Omnicom.
The companies also announced the receipt of approvals from regulatory authorities in India, South Korea, Turkey as well as Canada and South Africa. This takes the merged company one step further to creating a leading name in the advertising industry. The deal is poised to completion by the first quarter of 2014.
The expiration of the HSR review period in the U S and the approvals received in other jurisdictions satisfy some of the conditions necessary for the transaction to close. The merger is also subject to additional global regulatory approvals and approval by shareholders of both companies.
Omnicom Group and Publicis Groupe had announced in July 2013 that they have signed a definitive agreement for a merger, creating the world’s leading company in communications, advertising, marketing and digital services.