The proposed $35 billion merger between Omnicom Group Inc, the No. 1 U.S. advertising company, and French rival Publicis Groupe SA has been called off, according to a person familiar with the situation.In July, the two companies announced plans for a merger that would have overtaken WPP Plc as the world's largest advertising company.The companies had been working to resolve roadblocks in the deal after disagreements over terms, including who would be the chief financial officer of the combined company.John Wren, the head of New York-based Omnicom, and Maurice Levy, his opposite at Paris-based Publicis, have been trying to settle the CFO choice, which had fueled tensions between the two sides even as they sought regulatory approvals for the blockbuster deal.
Omnicom Group Inc. (Omnicom) is a holding company, providing professional services to clients through multiple agencies. Shares of OMC traded higher by 0.64% or $0.42/share to $66.20. In the past year, the shares have traded as low as $59.70 and as high as $76.87. On average, 1651110 shares of OMC exchange hands on a given day and today's volume is recorded at 1108131.
Shares of WPPGY traded higher by 0.01% or $0.01/share to $107.76. In the past year, the shares have traded as low as $81.21 and as high as $115.40. On average, 86818 shares of WPPGY exchange hands on a given day and today's volume is recorded at 122433.
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