Omnicom, Interpublic announce ‘mutually acceptable consent order’ with FTC

Omnicom (OMC) and Interpublic (IPG) announced that the U.S. Federal Trade Commission has concluded its antitrust review of Omnicom’s proposed acquisition of Interpublic and reached agreement with Omnicom and IPG on a mutually acceptable consent order. The companies stated that with the agreed consent order, which is publicly available on the FTC’s website, on June 23, the FTC granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. The consent order is now subject to a 30-day public comment period and then final acceptance by the FTC. “We are delighted that our transaction with Interpublic has cleared this significant regulatory hurdle,” said John Wren, Chairman & CEO of Omnicom. “This is an important step toward the completion of the proposed acquisition and creating a new era in which we help clients grow with a comprehensive range of marketing and sales solutions, incorporating both creativity and technology. We continue to look forward to obtaining the remaining regulatory approvals and closing in the second half of this year, consistent with our expectations when we announced this transaction.” Philippe Krakowsky, CEO of Interpublic, added: “Today’s news is a notable step forward in the process of combining our companies and their deep pools of talent, complementary capabilities, and geographic strengths. Together with John and as part of his team, we will be exceptionally well-positioned to meet the evolving needs of clients in a consumer and media landscape being transformed by technology and data.”