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Even as the US regulators are yet to greenlight Omnicom Group’s proposed $13.3 billion all-stock acquisition of Interpublic Group (IPG), the deal has drawn the attention of UK authorities, with the Competition and Markets Authority (CMA) initiating a formal inquiry on May 7 into its potential impact on market competition.
The CMA’s “invitation to comment”, open until May 21, 2025, seeks stakeholder feedback on whether the merger could lead to a “substantial lessening of competition” within UK markets, states the CMA website.
In the EU, Omnicom sought permission to buy IPG under foreign subsidy rules, according to the European Commission’s register of deals notified on March 14. The commission is still to announce its decision.
For the deal to go through, Omnicom needs to win regulatory approval in 18 jurisdictions, including the EU, UK, India and the United States.
While it has already received regulatory approval from China, Colombia, Brazil, Saudi Arabia, and Egypt, as per the Chairman and CEO John Wren’s statement earlier, other major markets are still evaluating the potential impact of consolidation of two of the world’s largest advertising holding companies on advertisers.
The US Federal Trade Commission (FTC) also launched a second round of inquiry into the proposed merger between Omnicom and Interpublic Group (IPG) in March. This second request for information indicates a more in-depth review by the FTC, potentially focusing on anti-competitive concerns.
“Both the companies expect the transaction to close in the second half of 2025, but the FTC's request could delay the process,” industry experts speculate.
An email sent to Omnicom didn’t elicit any response till the time of writing these lines. The story will be updated as and when they respond.
In India, matter under CCI review
In India, Omnicom formally approached the Competition Commission of India (CCI) on March 3 this year, seeking approval for the combination under the Competition Act, 2002. The matter is still under review, states the CCI website.
Their combined client portfolio positions the proposed combined entity as a formidable player in the region.
However, it would still be smaller than the UK-based WPP, which is the country’s biggest operator of ad agencies. Hence, industry observers believe that CCI would approve the deal as it is unlikely to have any significant impact on the competition in the Indian market.
In a marketing landscape increasingly shaped by AI, data, and tech innovation, Omnicom’s acquisition of IPG is being viewed as a strategic bid to stay competitive. Beyond scale, the deal reflects a necessary pivot amid mounting pressure from legacy rivals like WPP and Publicis, tech giants like Google and Meta, and global systems integrators such as Accenture, Infosys, and Cognizant, who are reshaping the space.
Global eyes on mega merger
First announced in December 2024, the Omnicom-IPG merger is set to reshape the global advertising landscape by uniting the creative, media, and data strengths of both giants. With over 90 per cent shareholder approval already secured in the US, the deal is inching towards a closure — though regulatory approvals across multiple markets remain a key hurdle.
If approved, the combined entity would surpass WPP to become the world’s largest advertising conglomerate in terms of revenue. Analysts view the move as a strategic response to intensifying pressure from tech platforms, client in-housing, and the growing demand for integrated, data-driven marketing solutions.
Concerns still persist around reduced client choice, increased pricing power, and potential agency overlaps— especially in competitive categories like FMCG, auto, and retail.
The deal
Under the terms of the agreement, Omnicom will exchange 0.344 shares of its stock for each IPG share, valuing the acquisition at approximately $13.3 billion, global media reports say.
The combined company will retain the Omnicom name, with Omnicom Group's long-serving CEO John Wren at the helm. Philippe Krakowsky, the current IPG CEO who assumed the role in 2021, will be Co-President and COO of Omnicom, sharing the dual title with Daryl Simm. Krakowsky will also be Co-Chair of the Integration Committee post-merger.
e4m had reported earlier that both the holding groups in India have already begun consolidating their agencies and human resources. As previously reported by exchange4media, transitions have kicked off at Omnicom Group India, with exits of key executives in creative agencies-BBDO and TWBA.
Parallelly, IPG India agencies have seen a wave of leadership reshuffles, reinforcing speculation about a deeper structural convergence on the horizon. These movements reflect not just internal preparedness but also an alignment of regional strategy with global vision.
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