Omnicom and Interpublic have called special online meetings for their respective shareholders on March 18 to approve several items related to their company's planned merger.  

Omnicom wants its shareholders to approve the issuance of additional common shares pursuant to the merger. If the merger is completed, Omnicom shareholders would own 60.6% of outstanding shares and IPG shareholders would own 39.4%. The issuance of the new shares must be approved in order for the merger to completed, Omnicom reported in an SEC filing this week.  

The company also wants shareholders to okay one or more adjournments of the Omnicom special meeting to a later date or time, if necessary to permit the solicitation of additional votes or proxies to get the proposal for additional shares passed.   

A majority of shares being voted must be cast in favor of the proposals in order for them to be approved.   

At the IPG meeting shareholders will vote for or against the merger. And, like the Omnicom shareholders, IPG’s shareholders will be asked to okay adjournments of the special meeting if necessary to garner additional votes required for approval.   

Also, a non-binding advisory proposal asks shareholders to approve certain compensation that may be paid to IPG’s named executive officers. In a separate filing this month, the companies outlined payments that four Interpublic executives could receive--a total of more than $80 million as part of a so-called "Golden Parachute" agreement tied to the merger agreement.  

The full registration statement can be viewed here.