EU approves Omnicom's acquisition of IPG without conditions
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Omnicom Group logo is seen in this illustration taken December 9, 2024. REUTERS/Dado Ruvic/Illustration
BRUSSELS (Reuters) -The EU Commission on Monday said it had unconditionally approved Omnicom Group's $13.25 billion all-stock deal to buy rival Interpublic Group.
The deal, announced last December, merges the world's third-largest ad buyer, Omnicom, with the fourth-largest which is Interpublic.
It would create the world's largest advertising agency as traditional players look to better compete with Big Tech firms amid the accelerating use of AI.
(Reporting by Bart Meijer;Editing by Sudip Kar-Gupta)
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