The European Union (EU) has approved Omnicom Group’s takeover of Interpublic Group (IPG), clearing the final regulatory hurdle before the deal can close.
Today (Nov. 24), the European Commission announced it has “approved unconditionally” Omnicom’s acquisition of IPG.
The governing body investigated the impact of the deal on European markets and “concluded that the merger would raise no competition concerns in the European Economic Area,” it said in a statement.
The holding companies are now expected to close the deal globally as soon as this week. Omnicom first announced its plan to acquire IPG nearly a year ago, in December 2024, and said the acquisition was projected to save $750 million in costs.
Once completed, the takeover will create the world’s largest advertising network by revenues, overtaking rivals Publicis Groupe and WPP. It is expected that Omnicom will reveal a new structure to the company that eliminates agency brands from the combined portfolio.
The U.S. Federal Trade Commission (FTC) gave the deal final clearance in September, and the U.K.’s Competition and Markets Authority did so in August.
Ahead of the deal’s closure, IPG has let go of 3,200 staffers this year, according to the holding company’s latest filing with the U.S. Securities and Exchange Commission. It has also reduced its global real estate footprint by 730,000 square feet this year.
