Omnicom and IPG's $13 billion merger gets CCI approval

The Competition Commission of India (CCI), has given its nod to Omnicom Group Inc.'s plan to acquire The Interpublic Group of Companies, Inc. (IPG). This approval is a big step for what's expected to be a major merger in the global advertising world, a deal valued at around $13 billion.

The merger will see Omnicom's special subsidiary company, called Omnicom Merger Sub, combine with IPG. After this, IPG will continue as the main company, but it will be fully owned by Omnicom.

Omnicom, based in New York, is a large global network of marketing and communications companies. They offer a wide range of services, including creating ads, managing customer relationships, buying media space, public relations, and other specialised communication tasks. IPG, from Delaware, also provides various services such as media planning and buying, data solutions, integrated advertising, PR, and event-based communications.

This approval from India is a key step for Omnicom as it moves forward with its global plans. This deal is expected to significantly change the advertising landscape, with the combined company potentially becoming the second-largest advertising group in India.

While the detailed order from the CCI will be released later, this approval means a major hurdle has been cleared for this significant consolidation in the advertising industry.