Executives from Publicis and Omnicom have agreed to a merger, creating a company with a market capitalization of just over $35 billion.
The newly combined agency, Publicis Omnicom Group, would have a stock market value of $35.1 billion and 130,000 employees worldwide.
Publicis, based in Paris, and Omnicom (Fortune 500), based in New York, together brought in revenue totaling $22.7 billion last year. ,
Chief executives Maurice Lévy of Publicis and John Wren of Omnicom will act as co-CEOs for the next 30 months, after which Lévy will become non-executive chairman and Wren the CEO.
Publicis Groupe shareholders will receive one newly-issued ordinary share of the agency for each Pubicis share they already own, with a special dividend of €1.00 per share.
Omnicom shareholders will get .813 newly-issued shares, with a special dividend of $2 per share.
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