Omnicom this morning announced noteholders have tendered 93% of aggregate notes representing $2.95 billion as part of the exchange offer in its proposed merger with Interpublic.
The merger has received regulatory approval in most of the major jurisdictions and is expected to be completed during the second half of this year.
Both Omnicom’s and
Interpublic’s stock prices have been rising in recent days, but remain closer to their 52-week trading lows than their highs.
As of this morning, Omnicom’s market
capitalization was valued at about $15.4 billion, while Interpublic’s was at about $10.0 billion.