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Omnicom Group has confirmed a takeover of rival holding company Interpublic Group (IPG).
The mega-merger between the two New York-listed businesses will create the world’s largest advertising group.
John Wren, chair and chief executive (CEO) of Omnicom, said in a statement the deal would combine “highly complementary data and technology platforms” to drive growth for clients.
Wren will remain as chairman and CEO of Omnicom, according to a press release. Phil Angelastro will remain as Omnicom evp and chief financial officer.
IPG CEO Philippe Krakowsky and COO Daryl Simm will serve as co-presidents and COOs of Omnicom.
