Omnicom Group (NYSE:OMC) is in advanced talks to buy longtime rival Interpublic Group (NYSE:IPG) in a deal that would create the world’s biggest advertising company, The Wall Street Journal reported Sunday, citing people familiar with the matter.
A transaction could be announced as early as this week, according the newspaper’s sources.
Seeking Alpha has sought comment from Omnicom (OMC) and Interpublic (IPG), and will update this story accordingly.
The all-stock agreement is likely to value Interpublic (IPG) in a range of $13 billion to $14 billion excluding debt, the Journal reported. Interpublic’s (IPG) market value was about $11 billion as of Friday.
A combined company would have net revenue of more than $20 billion a year, based on 2023 figures for each company.
