July 27, 2013 / 19:17 IST
Advertising groups Publicis Groupe SA and Omnicom Group Inc are in late-stage merger talks, Bloomberg reported, citing a person with knowledge of the matter.
The deal, which the report said is likely to be structured as a merger of equals, would combine Publicis agencies such as Leo Burnett Worldwide and Saatchi & Saatchi with Omnicom's BBDO Worldwide and DDB Worldwide.
The combined entity would be the world's largest advertising company by revenue, overtaking current leader WPP
.
Bloomberg, however, reported that the talks could still collapse.
New York-based Omnicom and Paris-based Publicis were not immediately available for comment.
Omnicom shares were up about 3 percent in trading after the bell. They closed at USD 65.11 on the New York Stock Exchange on Friday.
Publicis' shares closed up 1.5 percent at 59.35 euros on Friday. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
