06:44 AM EST, 12/09/2024 (MT Newswires) -- Omnicom Group ( OMC ) is in advanced discussions to takeover Interpublic Group (IPG) in an all-stock deal that could potentially create the world's largest advertising company, The Wall Street Journal reported, citing unnamed people familiar with the matter.

The transaction is expected to topple WPP as the industry's biggest player by combining Omnicom ( OMC ), the world's third-largest ad company, and Interpublic Group, the fourth-biggest ad company, WSJ said.

Exact details of the acquisition could not be learned but the sources said that a transaction may take place as soon as this week and is likely to value Interpublic at between $13 billion and $14 billion, according to the report.

Omnicom ( OMC ) tried pursuing a $35 billion deal in 2014 with ad company Publicis Groupe but it fell through partly due to conflicts over positions of power in the combined company, the report said.

Omnicom ( OMC ) and Interpublic did not immediately respond to MT Newswires' request for comment on the matter.

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