Deals
Omnicom, Publicis Scrap $35 Billion Merger as Cultures Clash
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Omnicom Group Inc. and Publicis Groupe SA scuttled their $35 billion merger, abandoning a plan to create the world’s largest advertising company after clashing over how to run it.
Tax and regulatory hurdles also created delays, leaving shareholders, employees and customers in limbo, the chief executive officers of New York-based Omnicom and Paris-based Publicis each said today. Both companies’ boards voted unanimously to end the transaction, with no termination fees.