The European Union Commission on Monday granted its unconditional approval to the merger between Omnicom and Interpublic Group (IPG)—removing the final regulatory obstacle to the largest consolidation the industry has ever witnessed.
The all-stock deal to buy IPG, which was announced in December 2024, merges the world's third-largest ad buyer, Omnicom, with the fourth-largest IPG.
Omnicom’s statement in this regard was awaited till the time of writing this story.
The transaction—valued at approximately $13.3 billion, based on Omnicom’s agreement to exchange 0.344 of its shares for each IPG share—will create a combined entity of unprecedented scale. Operating under the Omnicom banner, the merged group will eclipse Publicis to become the world’s largest advertising and marketing conglomerate by revenue, signalling a dramatic reordering of the sector’s long-standing hierarchy.
As per last December's announcement, leadership of the extended Omnicom empire will remain with its veteran CEO John Wren, while IPG’s Philippe Krakowsky, who has led the company since 2021, will take on the role of Co-President and Chief Operating Officer, sharing responsibilities with Daryl Simm. Krakowsky will also serve as Co-Chair of the Integration Committee, charged with overseeing one of the most complex and ambitious unifications of agency networks in modern history.
The European Commission’s approval concludes an exhaustive antitrust review, which ultimately determined that the merger would not significantly impede competition, provided the combined group upholds stringent commitments around data governance, media neutrality, and platform transparency.
Analysts say the timing of the deal underscores the mounting structural pressures facing agency holding companies: intensifying competition from tech platforms, the rapid acceleration of client in-housing, and the industry-wide pivot toward AI-driven, data-rich, full-stack marketing solutions. In this context, the Omnicom–IPG merger is seen as a strategic response - an attempt to aggregate capabilities, amplify scale, and fortify the industry’s traditional players against seismic shifts in the advertising economy.
With tens of billions in combined billings, a vast global footprint, and deep expertise spanning creative, media, CX, analytics, and commerce, the new Omnicom will enter 2026 as the most formidable force the industry has ever seen.
The company is expected to unveil its detailed post-merger integration blueprint soon. That roadmap will set the tone for how the new supergroup intends to consolidate operations, align its agency brands, and harness combined technology platforms to deliver next-generation marketing solutions at a global scale.
Timeline of a Mega-Merger
After nearly 11½ months of behind-the-scenes discussions between Omnicom CEO John Wren and IPG CEO Philippe Krakowsky, the historic Omnicom–IPG merger has progressed at remarkable speed — moving from announcement to near-completion in under a year.
December 9, 2024 – Deal Announced
Omnicom unveils its plan to acquire IPG for $13.5 billion — a 21% premium on IPG’s pre-deal value. The combined entity would give Omnicom shareholders 60.6% ownership (39.4% to IPG holders) and deliver an estimated $750 million in annual cost synergies. Omnicom begins early restructuring, trimming roughly 3,000 jobs by year-end.
March 2025 – Shareholder Approval
Shareholders of both companies vote overwhelmingly (over 90%) in favour of the merger. IPG CEO Philippe Krakowsky is set to receive $48.6 million under change-in-control provisions and will transition into a co-COO role post-merger.
May–June 2025 – Regulatory Scrutiny Begins
Antitrust reviews launch across major markets. The UK CMA opens an inquiry in May, while the US FTC grants conditional approval in June, requiring commitments on publisher neutrality and brand-safety safeguards. India’s CCI also clears the deal, joining nearly a dozen regulators by mid-2025.
July 2025 – Australia Joins the Green List
On an earnings call, Wren assures investors the deal is “fully on track” for H2 2025. Australia’s ACCC clears the merger soon after, removing another key regulatory barrier.
August 2025 – UK Clearance and IPG’s Financial Clean-Up
The UK CMA formally approves the deal. IPG simultaneously moves to streamline its balance sheet — securing exchanges and redemptions from bondholders and finalising new financing, removing any debt-related hurdles to closing.
Jan–Sept 2025 – Aggressive Restructuring
In preparation for integration, IPG eliminates about 3,200 jobs (5% of its workforce), with 800 layoffs in a single quarter. It also exits 135,000 sq. ft. of office space as part of a $450+ million transformation programme. By mid-2025, global headcount drops to just under 52,000. Omnicom had already reduced ~3,000 roles in 2024.
Late October 2025 – Final Stretch
As the last approvals near completion, Omnicom extends deadlines for IPG noteholders to swap old debt to ensure seamless financial alignment. In its Q3 earnings on October 21, Wren confirms “all major hurdles have been cleared.”
November 2025 – EU Sign-Off Pending
By November, every major jurisdiction except the European Union approved the deal. With regulatory approvals already on board, the merger is slated to close by the end of December — creating the world’s largest agency holding group.
