ACCC launches public review of Omnicom-IPG merger in Australia
Competition watchdog the ACCC has opened a review into Omnicom’s proposed acquisition of IPG in Australia and is calling for submissions from interested parties.
The global mega-merger will see Omnicom and IPG’s agencies come together later this year to form the world’s biggest holdco, with around US$20 billion in net revenue. That will only happen in its entirety if the deal is approved in many separate jurisdictions, including the US, UK, New Zealand and Australia.
The ACCC (Australian Competition and Consumer Commission) has given the industry and other stakeholders two weeks to make submissions, with the deadline 5pm on 27 May. The commission’s provisional findings will be delivered two months later, on 27 July.