Omnicom Group Inc. extended the expiration date for its exchange offers and consent solicitations for Interpublic Group’s outstanding notes to 5:00 p.m. New York City time on November 28, 2025. The extension allows holders of IPG’s 4.650% 2028, 4.750% 2030, 2.400% 2031, 5.375% 2033, 3.375% 2041, and 5.400% 2048 notes to exchange up to $2.95 billion of new Omnicom notes or cash. As of October 29, 2025, $2.761 billion—93.6% of the total principal—had been tendered.
The additional month gives IPG note holders more time to decide, improving liquidity ahead of the merger’s expected closing in the second half of 2025. Settlement of the exchange offers is expected within two business days after the new expiration date, contingent on the merger’s completion.
The exchange offer is part of Omnicom’s acquisition of Interpublic Group, a stock‑for‑stock transaction valued at over $13.5 billion. Interpublic shareholders receive 0.344 Omnicom shares for each Interpublic share. The combined company will be the world’s largest advertising holding company, with annual revenue exceeding $25 billion.
The merger aims to combine complementary data and technology platforms, create new client offerings, and generate annual cost synergies of $750 million. Integration plans include consolidating creative networks around BBDO Worldwide, McCann, and TBWA Worldwide, with potential rationalization of other networks.
Regulatory approvals are largely in place; U.S., U.K., and India approvals have been granted, while final approvals from the European Union and Mexico remain pending, with an expected closing by December 31, 2025.
IPG has a moderate debt level of $4.18 billion and a dividend yield of 5.12%, maintaining dividend payments for 15 consecutive years. Omnicom reported Q3 2025 results with adjusted earnings per share of $2.24 and revenue of $4.0 billion, though net income fell 11.6% due to acquisition‑related costs.
The new Omnicom notes to be issued in exchange for IPG notes will have terms consistent with existing Omnicom debt, but specific coupon rates and maturities have not been disclosed.
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