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April 27, 2014
19:24 EDTOMC, PUBGY, WPPGYOmnicom, Publicis working out differences to complete deal, Reuters says
The CEOs of Omnicom (OMC) and Publicis (PUBGY) are working towards resolving a seven month long debate as to who will be CFO of the merged companies, says Reuters. Both John Wren, the head of Omnicom, and Maurice Levy, his counterpart at Publicis, are in regular contact and are both committed to the deal which would create the world's biggest ad agency ahead of current leader WPP (WPPGY), added Reuters. Reference Link
News For OMC;PUBGY;WPPGY From The Last 14 Days
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July 22, 2014
06:52 EDTOMCOmnicom reports Q2 EPS$1.23, consensus $1.17
Reports Q2 revenue $3.87B, consensus $3.8B. Q2 results include $1.8M of pre-tax charges in connection with the proposed merger with Publicis, which are primarily comprised of professional fees. In addition, the effective tax rate for the second quarter reflects the recognition of an income tax benefit of $11.2M related to previously incurred expenses for the proposed merger with Publicis. On May 8, the proposed merger with Publicis was terminated. Prior to the termination of the merger, the majority of the merger costs were capitalized for income tax purposes and the related tax benefits were not recorded. Because the merger was terminated, the merger costs were no longer required to be capitalized for income tax purposes. The net impact of these items on net income available to common shareholders in the second quarter was $9.2M. The impact on diluted EPS was 3c per common share.
06:19 EDTOMC, PUBGYPublicis says might miss FY sales growth target, WSJ reports
Maurice Levy, the CEO of Publicis, says the company may not be able to achieve its FY sales growth target of 4% or more organic revenue growth, the Wall Street Journal reports. Levy says the group's performance has been affected by teams "at times being distracted" by plans to merge with Omnicom (OMC). Publicis and Omnicom called off their proposed $35B merger in May. Reference Link
July 21, 2014
08:11 EDTOMCOmnicom's DAS Group of Companies acquires minority interest in InPress
July 17, 2014
11:00 EDTOMCHigh option volume stocks
High option volume stocks: OMC FXC TSEM JRJC MAT MTG PRAN SEAS BURL
July 16, 2014
07:24 EDTWPPGYSiemer & Associates to hold a summit
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July 10, 2014
06:39 EDTOMC, PUBGYPublicis CEO calling on top managers for fresh outlook, WSJ reports
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