On track to close its $13.5 billion acquisition of Interpublic by the end of November, Omnicom is now waiting on final sign-off from European Union regulators, the last major approval outstanding. Authorities in the US, UK, and Australia have already cleared the deal, paving the way for the creation of what will become the world’s largest agency holding company.
The march toward consolidation has unfolded alongside significant operational upheaval at both networks.
At IPG, restructuring intensified this year. The company slashed 3,200 roles, including 800 jobs in September alone—one of the largest agency workforce reductions in recent memory. IPG also exited 135,000 square feet of office space as part of a transformation programme that's projected to cost $450–475 million. As of June 2025, the network’s headcount sits just under 52,000.
Omnicom, on its part, has undergone its own belt-tightening, shedding roughly 3,000 jobs by the end of 2024.
Below, we chart how the mega-merger has unfolded since it was first announced on December 9,
2024, through to its expected completion in November 2025.
Dec 9, 2024: Merger announced
- Omnicom and IPG reveal plans for Omnicom to acquire IPG for $13.5 billion, offering a 21% premium on IPG’s share price.
- Omnicom shareholders to hold 60.6% of the combined company; IPG shareholders to hold 39.4%.
- Agencies project $750 million in annual cost synergies.
- Omnicom restructures through 2024, slashes ~3,000 jobs by year-end.
March 2025: Shareholders approve merger
- Both Omnicom and IPG shareholders deliver 90%+ approval for the acquisition.
- “Golden parachutes” detailed for senior IPG executives; CEO Philippe Krakowsky to receive $48.6 million, while remaining as co-COO post-merger.
May 2025: Regulatory scrutiny begins
- UK Competition and Markets Authority (CMA) opens inquiries and seeks industry feedback on competition risks.
June 2025: US clearance
- US Federal Trade Commission grants conditional approval, requiring commitments on publisher neutrality and brand safety.
July 2025: Second-half closing reaffirmed
- Omnicom CEO John Wren, on the Q2 earnings call, says the company remains “fully on track” for a second-half 2025 close.
- Australia’s ACCC announces it will not oppose the merger.
August 2025: UK clearance + financial milestones
- UK CMA formally clears the merger.
- IPG secures agreements with most note holders to exchange debt, removing a major barrier.
- IPG also completes its merger financing, securing all required consents and signing new agreements.
Jan - September 2025
- Ongoing restructuring at IPG: From January through September, IPG cut ~3,200 jobs, one of the largest restructures in agency history.
September 2024: Another 800 roles eliminated across the network.
- IPG also vacated 135,000 sq ft of office space, aiming for US$450–475 million in savings in 2024.
- Headcount drops to just under 60,000.
Late October 2025: Final stages
- Omnicom extends the deadline to swap old IPG debt notes to Nov 28.
Oct 21
- Wren confirms in Q3 results that all major hurdles have been cleared.
November 2025: Expected closing
- Only EU regulatory approval remains, currently in its final stage.
- The US, UK, and Australia have already cleared the transaction.
- Merger expected to go into effect in late November, creating the world’s largest agency holding group.
January 2026: Post-merger roadmap
- Omnicom plans to detail its integration strategy at the Consumer Electronics Show (CES) in January 2026.
