As previously disclosed, The Interpublic Group of Companies, Inc., a Delaware corporation (“IPG”), entered into an Agreement and Plan of Merger (the “merger agreement”), dated as of December 8, 2024, with Omnicom Group Inc., a New York corporation (“Omnicom”), and EXT Subsidiary Inc., a Delaware corporation and a direct wholly owned subsidiary of Omnicom (“Merger Sub”). The merger agreement provides that, upon the terms and subject to the conditions set forth therein, Merger Sub will merge with and into IPG (the “merger”), with IPG continuing as the surviving corporation in the merger and a wholly owned subsidiary of Omnicom. The merger agreement was unanimously approved by the board of directors of each of IPG and Omnicom.
In connection with the merger, Omnicom filed with the Securities and Exchange Commission (the “SEC”) a registration statement on Form S-4 that includes a joint proxy statement of IPG and Omnicom and a prospectus of Omnicom (as amended, the “joint proxy statement/prospectus”). The registration statement was declared effective on January 30, 2025, at which time IPG filed a definitive joint proxy statement and Omnicom filed a final prospectus. IPG and Omnicom commenced mailing of the definitive joint proxy statement/prospectus to their respective stockholders on or about January 30, 2025.
Each of IPG and Omnicom will hold a special meeting of stockholders on March 18, 2025 to consider certain proposals related to the merger agreement as further described in the joint proxy statement/prospectus.
Following the announcement of the merger agreement, as of the date of this Current Report on Form 8-K, three lawsuits concerning the merger have been filed (each, a “Lawsuit” and, collectively, the “Lawsuits”). The first Lawsuit, captioned Smith v. The Interpublic Group of Companies, Inc. et al. (Index No. 650994/2025), was filed by a purported stockholder of IPG in the Supreme Court of the State of New York for the County of New York on February 20, 2025. The second Lawsuit, captioned Clark v. The Interpublic Group of Companies, Inc. et al. (Index No. 650997/2025), was filed by a purported stockholder of IPG in the Supreme Court of the State of New York for the County of New York on February 20, 2025. The third Lawsuit, captioned Rosenthal v. Choksi et al. (Index No. 005208/2025), was filed by a purported stockholder of Omnicom in the Supreme Court of the State of New York for the County of Chemung on February 24, 2025. In addition, IPG and Omnicom have received demand letters from counsel representing purported individual stockholders of IPG and Omnicom, respectively (collectively, the “Demand Letters” and, together with the Lawsuits, the “Matters”). The Matters each generally allege, among other things, that the joint proxy statement/prospectus contains certain disclosure deficiencies and/or incomplete information regarding the merger.
IPG and Omnicom believe that the allegations asserted in the Matters are without merit and additional disclosures are not required or necessary under applicable laws. However, in order to avoid the risk that the Matters delay or otherwise adversely affect the merger, and to minimize the cost, risk and uncertainty inherent in litigation, and without admitting any liability or wrongdoing, IPG and Omnicom have agreed to voluntarily supplement the joint proxy statement/prospectus as described in this Current Report on Form 8-K. IPG and Omnicom deny that they have violated any laws or breached any duties to IPG’s stockholders or Omnicom’s stockholders, as applicable. Nothing in this Current Report on Form 8-K shall be deemed an admission of the legal necessity or materiality under applicable laws of any of the disclosures set forth herein. To the contrary, IPG and Omnicom specifically deny all allegations in the Matters that any additional disclosure was or is required.
The additional disclosures (the “supplemental disclosures”) in this Current Report on Form 8-K supplement the disclosures contained in the joint proxy statement/prospectus and should be read in conjunction with the disclosures contained in the joint proxy statement/prospectus, which should be read in its entirety. To the extent that information set forth in the supplemental disclosures differs from or updates information contained in the joint proxy statement/prospectus, the information in this Current Report on Form 8-K shall supersede or supplement the information contained in the joint proxy statement/prospectus. Page references in the below disclosures are to the joint proxy statement/prospectus, and defined terms used but not defined herein shall have the meanings set forth in the joint proxy statement/prospectus. For clarity, new text within restated disclosures from the joint proxy statement/prospectus is highlighted with bold, underlined text, while deleted text is bold and stricken-through.
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