PARIS, July 28 Publicis and Omnicom
unveiled plans to merge the French and U.S. companies on
Sunday to create the world's biggest advertising group, worth
Publicis and Omnicom shareholders will each hold
approximately 50 percent of the new company's equity in the
deal, which the companies presented as a "merger of equals".
Publicis said the transaction was expected to create
"significant value for shareholders", with expected synergies of
$500 million. The merged group would keep its head offices in
Paris and New York, it added.
Publicis said the deal, which had been unanimously approved
by the boards of both companies, was expected to close in the
fourth quarter of 2013 or the first quarter of 2014.