Delays in obtaining antitrust clearance from China for the $35bn Publicis and Omnicom deal, among other complications, are pushing the expected closing date for the merger back about nine months to the third quarter this year, writes Emily Steel.
The transaction, which will create the largest advertising and communications company in the world by revenues, has received the greenlight in all jurisdictions except China, John Wren, Omnicom’s chief executive said yesterday.
“This transaction is highly complex and is taking longer than we originally expected,” he said.
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