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Thursday, November 21, 2013

Omnicom-Publicis deal closing pushed back to H1, (NYSE: MS)

The $35.1 billion tie up of advertising groups Omnicom and Publicis will close, at the latest, by the first half of next year, the two groups said on Thursday, pushing the date slightly further back than expected. Omnicom's Chief Executive John Wren and Publicis boss Maurice Levy said they were still waiting on some regulatory approvals including Russia and the European Union, meaning they may just miss the original target of a first quarter close. Approval in the United States has been secured."We'll close certainly in the first half and as early as we can," Wren told the Morgan Stanley investor conference in Barcelona.

Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS traded higher by 1.96% or $0.5925/share to $30.86. In the past year, the shares have traded as low as $16.23 and as high as $30.78. On average, 13173400 shares of MS exchange hands on a given day and today's volume is recorded at 5271577.