Publicis Omnicom merger granted unconditonal clearance from European Commission
Omnicom and Publicis Groupe have revealed that their pending merger has received approval from the European Commission, after the proposal was made to the European Commission on 25 November 2013.
The approval sees the deal authorised without condition following a phase one review and follows previously disclosed clearances in Australia, Brazil, Canada, Colombia, India, Japan, Mexico, Russia, South Africa, South Korea, Turkey, Ukraine and the expiration of the Hart-Scott-Rodino Antitrust Improvements Act (HSR) review period in the US.
The European Commission’s approval along with the expiration of the HSR review period and clearances in other jurisdictions satisfy some of the conditions need to close the transaction.
Additional regulatory approvals, including merger control approval in China, registration of the transaction in the US and certain European securities regulators, stock exchange listings and approval from the shareholders of both companies, are still required for the proposed merger, announced last summer, to complete.
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