MAM
EU waves through Omnicom–IPG megamerger
BRUSSELS: The EU has handed Omnicom a clean bill of health for its $13.25bn all-stock takeover of Interpublic Group, firing the starting gun on the creation of the world’s largest advertising network at a time when traditional agencies are scrambling to keep pace with Big Tech and the AI arms race.
In a decision published today, the European Commission said it had “approved unconditionally” the merger after finding no competition concerns across the European Economic Area. The ruling removes the final regulatory roadblock, with the holding groups expected to seal the deal globally within days.
Omnicom unveiled the acquisition last December, touting some $750m in cost savings and a sweeping restructuring that is expected to ditch long-standing agency brands as the two giants fuse into a single, heavyweight operator. The deal leapfrogs the combined group ahead of Publicis and WPP on revenues, resetting the global pecking order in adland.
Regulators in America and Britain signed off earlier—Britain’s CMA in August and the US Federal Trade Commission in September—leaving Brussels as the last stop.
IPG has been slashing overheads ahead of the tie-up, shedding 3,200 staff this year and shrinking its global real-estate footprint by 730,000 square feet, according to its latest SEC filing.
With Brussels now on board, Omnicom is poised to pull the trigger—and adland is bracing for its biggest shake-up in decade.
MAM
PwC India announces leadership change in Deals practice
Shashank Jain steps down as co-leader after nearly three decades with the firm.
MUMBAI: When one dealmaker steps off the pitch, another is ready to take the baton because in the fast-moving world of transactions, the game never really stops. PwC India has announced a leadership transition in its Deals practice, with Shashank Jain stepping down from his role as co-leader to pursue an opportunity in the industry. The practice will continue to be led by Mohit Chopra, ensuring continuity and sustained growth momentum.
PwC India partner and leader for advisory dinesh Arora paid tribute to Jain’s contributions. “We deeply appreciate the significant contributions made by Shashank over close to three decades he has spent with PwC, particularly his defining role in shaping and strengthening our Transaction Services practice in India,” he said. Arora highlighted Jain’s support for clients through some of the most complex and significant transactions in the Indian market, noting his deep technical expertise, sound judgment and nuanced understanding of the evolving M&A landscape.
The Deals practice remains a key growth driver for PwC India, and the firm expects continued expansion under Mohit Chopra’s leadership. He will continue to guide clients through complex transactions and transformational business moments, building on the strong foundation established over the years.
Reflecting on his journey, Shashank Jain said, “I have had an exceptional journey at PwC. I owe my growth and learning to the nurturing environment and leadership development that PwC provided.” He added that he had been working closely with Mohit and the larger team to ensure a smooth transition and expressed confidence that Chopra would take the Deals practice to newer heights.
From intern to respected deals leader, Shashank Jain has clearly closed many successful transactions and now, it seems, he’s ready to strike a new deal of his own.
