Omnicom Group Inc., a number one world advertising and promoting agency, has approached the Competitors Fee of India (CCI) for approval of its deliberate acquisition of The Interpublic Group of Firms, Inc. (IPG), in keeping with media reviews.
As a part of the proposed deal, Omnicom’s absolutely owned subsidiary, EXT Subsidiary Inc. (Omnicom Merger Sub), shall be merged into IPG. Following the merger, IPG will function as a completely owned subsidiary of Omnicom, whereas Omnicom Merger Sub shall be dissolved.
Omnicom, a New York-based advertising and communications big, operates throughout greater than 70 international locations, offering companies similar to promoting, media planning, public relations, and buyer relationship administration. IPG, headquartered in Delaware, specialises in media shopping for, promoting, and built-in advertising options, with a workforce of round 57,400 throughout over 100 international locations. Each firms have a powerful presence in India, notably in advertising communications and media shopping for.
The Competitors Fee of India (CCI) will overview the proposed Omnicom-IPG merger beneath the Competitors Act, 2002, to judge its affect on competitors in India’s promoting and advertising sector. With each firms holding important market share, the deal might increase issues about market dominance. If authorised, the merger would create one of many largest world promoting companies, with regulators doubtless assessing potential anti-competitive results in India.
Written with the View : afaqs