Omnicom and IPG push exchange deadline to October 31, keep year-end close in sight

New Delhi: Omnicom and Interpublic said their merger has passed regulatory review in every required market except the European Union and Mexico. The companies still expect to close the transaction by December 31, 2025.

Omnicom also pushed back the expiry of its exchange offers and consent solicitations for IPG’s outstanding notes to 5 pm New York time on October 31. The window had been set to end on September 30.

The Federal Trade Commission has given final approval to Omnicom Group Inc.'s $13.5 billion acquisition of The Interpublic Group of Companies, Inc. (IPG), imposing stringent conditions to prevent the combined entity from discriminating against media publishers based on political or ideological viewpoints. 

The transaction has already cleared a key hurdle in the major markets, where the Competition and Markets Authority opted not to pursue a deeper investigation.

The deal, struck in December 2024, unites two advertising giants, combining Omnicom’s portfolio, including agencies like BBDO and DDB Worldwide, with IPG’s roster, featuring McCann Worldgroup and FCB.

Investor uptake remains strong. As of September 29, holders had tendered $2.76 billion of the $2.95 billion targeted across six IPG note series, equal to 93.52%. Earlier, by August 22, Omnicom had received enough consents to amend IPG’s existing indentures. IPG signed a supplemental indenture the same day. Those amendments will only take effect at settlement and remain subject to the merger’s completion.

Settlement is expected within two business days after the new deadline. If the merger is not on track by then, Omnicom said it would extend the offer again to align timing.

Participation is limited to eligible investors. The company warned that notes not exchanged could see reduced liquidity and that amended indentures will offer fewer protections to remaining holders.