The companies also received regulatory approval in Canada,
India, Turkey, South Africa and South Korea.
While U.S. approval is a major milestone for the ad giants
looking to complete the deal by first quarter of 2014, the merger
is subject to shareholder approval at both companies and additional
global regulatory approvals.
draft notification has been discussed with the European
Commission since mid-September. In China, a draft filing was
provided to MOFCOM (the nation's Ministry of Commerce).
In the U.S., the anti-trust filing was made at the beginning of
The groups' leaders aren't worried. "I don't anticipate any
major issues," said Maurice Levy, Publicis Groupe's chairman-CEO,
while addressing analysts and press about the company's third
quarter earnings on October 16. "The hard work is behind us
–now it's just a process that we have to follow cautiously.
I'm optimistic, based on the opinions of lawyers and economists
who've worked on market share issues."
At the time, he also said the companies were in the process of
setting up an
integration committee and task force.
A note from Deutsche Bank analyst Matt Chesler in late September
following a meeting with Omnicom Group CFO Randy Weisenburger
stated: "[Management] said things are going well for a complex,
cross-border transaction. We have filed in US, EU, India,
Australia, & others, with 6-7 more to go. Since the review of
media buying will be on a country-by-country basis and is only
15-20% of combined [revenues], they are not concerned."