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Market Update

Omnicom and Publicis Abandon $35 Billion Merger

Author: Bikram Pandey
Last Update: 11:24 AM ET May 09 2014

Publicis Groupe SA slid 0.7% to 60.27 after the France-based advertising and media service provider and the U.S.-based Omnicom Group, Inc mutually agreed to terminate their proposed merger of equals due to various unresolved complex issues and called off the deal of merger valued $35 billion.

The companies said no termination fees would be payable by either side.

The merger of two companies would have created a company with $23 billion in revenues.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc