Omnicom, Publicis agree to terminate proposed merger of equals Publicis Groupe S.A. (PUBGY) and Omnicom Group (OMC) jointly announced that they have terminated their proposed merger of equals by mutual agreement, in view of difficulties in completing the transaction within a reasonable timeframe. The parties have released each other from all obligations with respect to the proposed transaction, and no termination fees will be payable by either party. This decision was unanimously approved by the management board and the supervisory board of Publicis Groupe and the board of Omnicom.
Omnicom downgraded to Market Perform from Outperform at FBR Capital FBR Capital downgraded Omnicom to Market Perform citing a balanced risk/reward at current levels and its belief 2015 consensus estimates look too high. FBR lowered its estimates to reflect currency headwinds and dropped its price target for shares to $76 from $81.