Macquarie says Omnicom, Interpublic deal to prompt more acquisition activity

Macquarie notes that Omnicom’s (OMC) acquisition of Interpublic (IPG) creates the new number one global ad holding company, but raises as many questions as it hopes to pre-empt. The firm views scale as the key benefit, with enhanced capabilities in data, tech, and commerce, heading into a likely period of investment into AI. Synergy gains should be achievable, but integration may not be easy, it adds, saying that it thinks the concept is inevitable, however. Macquarie expects this deal to prompt more acquisition activity across the industry. The firm has an Outperform rating on Omnicom with a price target of $120.