India, June 3 -- The Government of India issued the following news release:
The Competition Commission of India has approved the proposed acquisition of The Interpublic Group of Companies, Inc. by Omnicom Group Inc.
The proposed combination relates to the acquisition of sole control of The Interpublic Group of Companies, Inc. (IPG) by Omnicom Group Inc. (Omnicom). Under the Merger Agreement, EXT Subsidiary Inc. (Omnicom Merger Sub) (a wholly owned subsidiary of Omnicom) will be merged with and into IPG. Omnicom Merger Sub will cease to exist and IPG will remain the surviving entity as a wholly owned subsidiary of Omnicom (Proposed Combination).
Omnicom is a New York based provider of marketing and sales solutions. Omnicom comprises an in...