Publicis and Omnicom today said US authorities had let pass the legal delay to challenge their merger to create the world's largest advertising company.
The companies said the waiting period under US anti-trust laws had expired without US authorities challenging their USD 35.8 billion merger announced on July 28.
Paris-based Publicis and Omnicom of the US said the merger, aimed at boosting their ability to meet the demands of the digital revolution, has to date been approved by regulatory authorities in Canada, India, Turkey, South Africa and South Korea.
"The expiration of the HSR review period in the U.S. And the approvals received in other jurisdictions satisfy some of the conditions necessary for the transaction to close," the companies said in a statement.
Omnicom is currently the world's number 2 advertising company and Publicis in third place, and their merger will put them far in front of the current leader WPP.
The merged company, the Publicis Omnicom Group, will have a combined workforce of more than 130,000.
