Omnicom Blames Merger Collapse on Cultural Differences
Posted in: UncategorizedFor now, both companies have an obligation to explain to clients why they’re better off working with individual companies, after touting the efficiencies and complimentary skills that would soon be achieved by the merger.
So far Omnicom seems to have sent only a barebones note to clients. “As you know a good concept is worth nothing unless it can be brilliantly executed in a timely way,” the note, sent Thursday night, reads in part. “Both parties have now decided that it is in the best interest, therefore, of our clients, people, and shareholders to terminate the proposed merger.”
Mr. Wren’s message was similar to but not entirely in sync with Publicis’ message during a call Friday morning in Paris.
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