Clemenger’s $79m Omnicom payday almost here
(From Clemenger Group's Linkedin page)
Omnicom’s deal to buy out the remainder of the Clemenger Group will see a payout of around $79m to employee shareholders, with the whole company being valued at over half a billion dollars.
The deal – at $3.37 a share and with a special dividend – will be voted on by employee shareholders next Tuesday (15 October) at simultaneous meetings being held at the group’s offices in Sydney, Melbourne and Auckland.
While the payout to the Class A and C shareholders (respectively Australians and non-Australians, mostly New Zealanders) is generous, most of the 297 staff shareholders borrowed money from the company to buy the shares.
Those loans, around $46m in total, will have to be paid back as part of the deal.
