Omnicom and Publicis announced that the Rothschild and Moelis & Co. were hired to handle the deal between the two advertising giants. The Publicis-Omnicom deal which will create the largest advertising company was tagged to have a market capitalization of an estimated US$30 billion. The deal will give both firms the significant jump that they need to gain footing in their industry.
"The reason we didn't add more advisers is because we didn't need them at the end of the day," Omnicom Chief Executive Officer John Wren said at a press conference. "Maurice and I settled many of the issues," he said, referring to Publicis CEO Maurice Levy.
The transaction between Omnicom and Publicis was a rare example where large banks like Goldman Sachs and Deutsche Bank Ag were not drawn in to participate. Structured mergers like the Publicis and Omnicom deal show that smaller firms can focus on the merger advice more effectively and allows them to give impartial counsel to the corporate executives.
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