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Omnicon-Publicis cancel merger

The $35 billion merger set to take place between Omnicom and Publicis Groupe to create the world's largest advertising agency, has collapsed due to issues within the companies. Problems arose from the "complex tax structure" and "divergent cultures" created by the proposed merger, as well as choice for CFO. The cancellation of the merger hasn't resulted in any legal or payable fees, but both companies have surrendered the top spot to communications company WPP.

For more information visit The Guardian and Brand Republic.