Credit: Dan Dennis via Unsplash
Omnicom and IPG shareholders have voted to approve approved the $13.25 billion takeover plan, creating the world's biggest advertising player.
The marriage of rivals brings together the third biggest advertising group, Omnicom, with the fourth, IPG, to form a company with 100,000 people and revenue of $25.6 billion (net revenue of $20 billion), with 57% of that in the US.
The companies remain on track to complete the transaction in the second half of 2025.
"We are very pleased to reach this important milestone," said John Wren, CEO of Omnicom.
"The strong support of our stockholders confirms the compelling value proposition of the transaction and the leading-edge services, products and platforms it will create for our people and clients."
Philippe Krakowsky, CEO, IPG, said shareholders clearly see the immense opportunity of joining forces with Omnicom.
"Their approval reflects the tremendous potential we have to create one of the most dynamic, client-focused, and forward-leaning organizations in our industry that will deliver significant shareholder value for years to come," he said.
The acquisition is subject to regulatory approvals for the deal which will leave Omnicom shareholders with 60.6% of the combined company and Interpublic 39.4%.
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.