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Published: Dec 9, 2024 8:54 AM | 1 min read
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Omnicom Group is likely to acquire IPG, according to a report in The Wall Street Journal.
The acquisition will create the world’s largest advertising company, the report said.
The announcement is likely to be made this week, media networks reported.
Although the exact value of the deal has not been disclosed, the all-stock deal is likely to value Interpublic nearly $13 billion and $14 billion, reports said.
The combined entity is said to have a net revenue of over $20 billion.
Late last week, IPG also announced that it has sold its digital company Huge. Huge has been acquired by AEA Investors, a leading global private investment firm, and is joining forces with Hero Digital, an existing AEA portfolio company.
“We’re pleased for the team at Huge and look forward to seeing the next phase for this storied digital brand as the company continues its evolution under new ownership,” commented Philippe Krakowsky, CEO of Interpublic, in a statement.
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