The deal is done.
Omnicom has swallowed Interpublic, creating the world’s largest BDHC (Big Dumb Holding Company) with total billings of $75 billion. However, in my infinite wisdom, I shall no longer refer to it as a BDHC, because Omnicom now wishes to be seen as… “The world’s leading marketing and sales company built for intelligent growth in the next era of marketing.”
Or as Uberfuhrer John Wren puts it: “Omnicom is setting a new standard for modern marketing and sales leadership – creating stronger brands, delivering superior business outcomes, and driving sustainable growth.” Hmmm… Not a word about advertising!
Should you have the patience to read the new mind-numbing Omnicom web site, you will be advised that the numerous risks relating to the merger include: Loss of management personnel and other key employees, significant costs, loss of clients, service providers, vendors, joint venture participants and other business counter-parties; and the combined company may fail to realize all or some of the anticipated benefits of the merger or fail to effectively manage its expanded operations.
Other than that, everything looks great!!!
Editor writes
S4 Capital and former WPP boss Sir Martin Sorrell thinks Omnicom and IPG are like “two drunks clinging to a lamppost” he tells India’s Storyboard18 here. He would, of course, but it’s an interesting interview all the same.
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