[8-K] The Interpublic Group of Companies, Inc. Reports Material Event
The Interpublic Group disclosed that Omnicom commenced exchange offers to exchange all outstanding senior notes issued by IPG for up to $2.95 billion aggregate principal amount of new notes to be issued by Omnicom and cash in connection with Omnicom's pending acquisition of IPG under the merger agreement dated December 8, 2024. Concurrently, Omnicom, on behalf of IPG, is soliciting consents to amend the indentures governing the existing IPG notes to eliminate certain covenants, restrictive provisions and events of default and to modify other provisions.
The Exchange Offers and Consent Solicitations are being made pursuant to a confidential offering memorandum and consent solicitation statement and are conditioned on the completion of the Merger; only eligible holders may receive the confidential materials or tender notes. The filing incorporates the related press release as Exhibit 99.1 and includes customary forward-looking statements and a non-exhaustive list of risks, including regulatory approval, integration and client retention risks, transaction costs, litigation, economic and geopolitical disruptions, cybersecurity and AI-related risks, and the ultimate outcome of the Exchange Offers and Consent Solicitations.
Interpublic Group ha reso noto che Omnicom ha avviato offerte di scambio per sostituire tutte le note senior in circolazione emesse da IPG con fino a $2.95 billion di importo nominale complessivo di nuove note emesse da Omnicom e contanti, in relazione all'acquisizione proposta di IPG da parte di Omnicom ai sensi dell'accordo di fusione datato 8 dicembre 2024. Contestualmente, Omnicom, per conto di IPG, sta sollecitando consensi per modificare gli indenture che disciplinano le note esistenti di IPG al fine di eliminare taluni covenant, clausole restrittive ed eventi di inadempimento e per variare altre disposizioni.
Le Offerte di Scambio e le Sollecitazioni di Consenso sono effettuate in base a un memorandum di offerta confidenziale e a una dichiarazione di sollecitazione di consenso e sono condizionate al completamento della Fusione; solo i portatori idonei possono ricevere i materiali riservati o presentare le note. Il deposito incorpora il comunicato stampa correlato come Exhibit 99.1 e contiene le consuete dichiarazioni prospettiche e un elenco non esaustivo di rischi, tra cui l'approvazione regolamentare, rischi di integrazione e di mantenimento della clientela, costi della transazione, contenziosi, interruzioni economiche e geopolitiche, rischi legati alla cybersicurezza e all'intelligenza artificiale e l'esito finale delle Offerte di Scambio e delle Sollecitazioni di Consenso.
Interpublic Group informó que Omnicom inició ofertas de intercambio para canjear todos los bonos senior en circulación emitidos por IPG por hasta $2.95 billion de importe principal agregado de nuevos bonos que emitirá Omnicom y efectivo, en relación con la adquisición pendiente de IPG por parte de Omnicom conforme al acuerdo de fusión fechado el 8 de diciembre de 2024. Paralelamente, Omnicom, en nombre de IPG, está solicitando consentimientos para enmendar los contratos de fideicomiso que rigen los bonos existentes de IPG con el fin de eliminar determinadas cláusulas, disposiciones restrictivas y supuestos de incumplimiento, y modificar otras disposiciones.
Las Ofertas de Intercambio y las Solicitudes de Consentimiento se realizan en virtud de un memorando de oferta confidencial y una declaración de solicitud de consentimiento y están condicionadas a la concreción de la Fusión; únicamente los tenedores elegibles pueden recibir los materiales confidenciales o entregar los bonos. La presentación incorpora el comunicado de prensa relacionado como el Exhibit 99.1 e incluye las habituales declaraciones prospectivas y una lista no exhaustiva de riesgos, incluidos la aprobación regulatoria, riesgos de integración y de retención de clientes, costes de la transacción, litigios, perturbaciones económicas y geopolíticas, riesgos relacionados con la ciberseguridad y la IA, y el resultado final de las Ofertas de Intercambio y las Solicitudes de Consentimiento.
인터퍼블릭 그룹은 옴니콤이 2024년 12월 8일자 합병계약에 따라 진행 중인 옴니콤의 IPG 인수와 관련하여 IPG가 발행한 모든 유통 중인 선순위 채권을 옴니콤이 발행할 새로운 채권(총액 최대 $2.95 billion)과 현금으로 교환하는 교환 제안을 개시했다고 밝혔다. 동시에 옴니콤은 IPG를 대신하여 기존 IPG 채권을 규율하는 인덴처를 수정하기 위해 일부 약정, 제한적 조항 및 채무불이행 사유를 제거하고 다른 조항을 변경하는 데 대한 동의를 요청하고 있다.
교환 제안 및 동의 요청은 기밀 발행 각서 및 동의 요청서에 따라 이루어지며 합병 완료를 조건으로 한다; 기밀 자료를 받거나 채권을 제출할 수 있는 것은 적격 보유자에 한정된다. 해당 제출 서류는 관련 보도자료를 Exhibit 99.1로 포함하고 있으며 일반적인 전망적 진술과 비포괄적 위험 목록을 포함하는데, 여기에는 규제 승인, 통합 및 고객 유지 위험, 거래 비용, 소송, 경제·지정학적 혼란, 사이버보안 및 AI 관련 위험, 그리고 교환 제안 및 동의 요청의 최종 결과 등이 포함된다.
Interpublic Group a déclaré qu'Omnicom a lancé des offres d'échange visant à échanger toutes les obligations senior en circulation émises par IPG contre jusqu'à $2.95 billion de montant principal agrégé de nouvelles obligations émises par Omnicom et des liquidités, dans le cadre de l'acquisition envisagée d'IPG par Omnicom en vertu de l'accord de fusion en date du 8 décembre 2024. Parallèlement, Omnicom, au nom d'IPG, sollicite des consentements afin de modifier les indentures régissant les obligations existantes d'IPG pour supprimer certaines clauses, dispositions restrictives et événements de défaut, et modifier d'autres dispositions.
Les Offres d'Échange et les Sollicitations de Consentement sont effectuées en vertu d'un mémorandum d'offre confidentiel et d'une déclaration de sollicitation de consentement et sont soumises à la réalisation de la Fusion ; seuls les porteurs éligibles peuvent recevoir les documents confidentiels ou remettre leurs obligations. Le dépôt incorpore le communiqué de presse correspondant en tant qu'Exhibit 99.1 et contient des déclarations prospectives habituelles ainsi qu'une liste non exhaustive des risques, notamment l'approbation réglementaire, les risques d'intégration et de fidélisation de la clientèle, les coûts de la transaction, les litiges, les perturbations économiques et géopolitiques, les risques liés à la cybersécurité et à l'IA, et le résultat final des Offres d'Échange et des Sollicitations de Consentement.
Die Interpublic Group gab bekannt, dass Omnicom Tauschangebote eingeleitet hat, um alle ausstehenden Senior Notes von IPG gegen bis zu $2.95 billion Nennbetrag neuer von Omnicom auszugebender Notes und Barmittel einzutauschen, im Zusammenhang mit Omnicoms geplanten Erwerb von IPG gemäß dem Fusionsvertrag vom 8. Dezember 2024. Gleichzeitig fordert Omnicom im Namen von IPG Zustimmungen zur Änderung der Indentures, die die bestehenden IPG-Notes regeln, um bestimmte Covenants, einschränkende Bestimmungen und Events of Default zu beseitigen und andere Bestimmungen anzupassen.
Die Tauschangebote und Zustimmungsanfragen erfolgen auf Grundlage eines vertraulichen Angebotsmemorandums und einer Zustimmungsaufforderung und stehen unter dem Vorbehalt des Abschlusses der Fusion; nur berechtigte Gläubiger können die vertraulichen Unterlagen erhalten oder Notes anbieten. Die Einreichung enthält die zugehörige Pressemitteilung als Exhibit 99.1 und umfasst übliche zukunftsgerichtete Aussagen sowie eine nicht abschließende Auflistung von Risiken, darunter behördliche Genehmigungen, Integrations- und Kundenbindungsrisiken, Transaktionskosten, Rechtsstreitigkeiten, wirtschaftliche und geopolitische Störungen, Cybersecurity- und KI-bezogene Risiken sowie das endgültige Ergebnis der Tauschangebote und Zustimmungsanfragen.
- None.
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Insights
TL;DR: Debt exchange and consent solicitations are a routine structural step tied to the merger; closing and holder consent determine effectiveness.
Omnicom's simultaneous Exchange Offers and Consent Solicitations streamline how IPG's legacy debt will be treated if the merger closes. By offering new Omnicom notes (up to $2.95 billion) and seeking to amend indentures, the parties aim to align creditor claims with the combined company's capital structure. The actions are conditioned on the Merger and distributed via a confidential offering memorandum to eligible holders, which preserves flexibility but links success directly to regulatory and closing milestones.
TL;DR: Proposed indenture amendments remove protections for noteholders, raising potential credit risk absent mitigating terms or merger benefits.
Soliciting consents to eliminate covenants, restrictive provisions and certain events of default can materially weaken existing noteholder protections. If holders accept the exchange and consents, creditor remedies and covenants that capped issuer actions may be diminished, increasing credit exposure. The offers are conditioned on the Merger, so bondholder outcomes hinge on both merger completion and the final terms of the new Omnicom notes and amended indentures.
Interpublic Group ha reso noto che Omnicom ha avviato offerte di scambio per sostituire tutte le note senior in circolazione emesse da IPG con fino a $2.95 billion di importo nominale complessivo di nuove note emesse da Omnicom e contanti, in relazione all'acquisizione proposta di IPG da parte di Omnicom ai sensi dell'accordo di fusione datato 8 dicembre 2024. Contestualmente, Omnicom, per conto di IPG, sta sollecitando consensi per modificare gli indenture che disciplinano le note esistenti di IPG al fine di eliminare taluni covenant, clausole restrittive ed eventi di inadempimento e per variare altre disposizioni.
Le Offerte di Scambio e le Sollecitazioni di Consenso sono effettuate in base a un memorandum di offerta confidenziale e a una dichiarazione di sollecitazione di consenso e sono condizionate al completamento della Fusione; solo i portatori idonei possono ricevere i materiali riservati o presentare le note. Il deposito incorpora il comunicato stampa correlato come Exhibit 99.1 e contiene le consuete dichiarazioni prospettiche e un elenco non esaustivo di rischi, tra cui l'approvazione regolamentare, rischi di integrazione e di mantenimento della clientela, costi della transazione, contenziosi, interruzioni economiche e geopolitiche, rischi legati alla cybersicurezza e all'intelligenza artificiale e l'esito finale delle Offerte di Scambio e delle Sollecitazioni di Consenso.
Interpublic Group informó que Omnicom inició ofertas de intercambio para canjear todos los bonos senior en circulación emitidos por IPG por hasta $2.95 billion de importe principal agregado de nuevos bonos que emitirá Omnicom y efectivo, en relación con la adquisición pendiente de IPG por parte de Omnicom conforme al acuerdo de fusión fechado el 8 de diciembre de 2024. Paralelamente, Omnicom, en nombre de IPG, está solicitando consentimientos para enmendar los contratos de fideicomiso que rigen los bonos existentes de IPG con el fin de eliminar determinadas cláusulas, disposiciones restrictivas y supuestos de incumplimiento, y modificar otras disposiciones.
Las Ofertas de Intercambio y las Solicitudes de Consentimiento se realizan en virtud de un memorando de oferta confidencial y una declaración de solicitud de consentimiento y están condicionadas a la concreción de la Fusión; únicamente los tenedores elegibles pueden recibir los materiales confidenciales o entregar los bonos. La presentación incorpora el comunicado de prensa relacionado como el Exhibit 99.1 e incluye las habituales declaraciones prospectivas y una lista no exhaustiva de riesgos, incluidos la aprobación regulatoria, riesgos de integración y de retención de clientes, costes de la transacción, litigios, perturbaciones económicas y geopolíticas, riesgos relacionados con la ciberseguridad y la IA, y el resultado final de las Ofertas de Intercambio y las Solicitudes de Consentimiento.
인터퍼블릭 그룹은 옴니콤이 2024년 12월 8일자 합병계약에 따라 진행 중인 옴니콤의 IPG 인수와 관련하여 IPG가 발행한 모든 유통 중인 선순위 채권을 옴니콤이 발행할 새로운 채권(총액 최대 $2.95 billion)과 현금으로 교환하는 교환 제안을 개시했다고 밝혔다. 동시에 옴니콤은 IPG를 대신하여 기존 IPG 채권을 규율하는 인덴처를 수정하기 위해 일부 약정, 제한적 조항 및 채무불이행 사유를 제거하고 다른 조항을 변경하는 데 대한 동의를 요청하고 있다.
교환 제안 및 동의 요청은 기밀 발행 각서 및 동의 요청서에 따라 이루어지며 합병 완료를 조건으로 한다; 기밀 자료를 받거나 채권을 제출할 수 있는 것은 적격 보유자에 한정된다. 해당 제출 서류는 관련 보도자료를 Exhibit 99.1로 포함하고 있으며 일반적인 전망적 진술과 비포괄적 위험 목록을 포함하는데, 여기에는 규제 승인, 통합 및 고객 유지 위험, 거래 비용, 소송, 경제·지정학적 혼란, 사이버보안 및 AI 관련 위험, 그리고 교환 제안 및 동의 요청의 최종 결과 등이 포함된다.
Interpublic Group a déclaré qu'Omnicom a lancé des offres d'échange visant à échanger toutes les obligations senior en circulation émises par IPG contre jusqu'à $2.95 billion de montant principal agrégé de nouvelles obligations émises par Omnicom et des liquidités, dans le cadre de l'acquisition envisagée d'IPG par Omnicom en vertu de l'accord de fusion en date du 8 décembre 2024. Parallèlement, Omnicom, au nom d'IPG, sollicite des consentements afin de modifier les indentures régissant les obligations existantes d'IPG pour supprimer certaines clauses, dispositions restrictives et événements de défaut, et modifier d'autres dispositions.
Les Offres d'Échange et les Sollicitations de Consentement sont effectuées en vertu d'un mémorandum d'offre confidentiel et d'une déclaration de sollicitation de consentement et sont soumises à la réalisation de la Fusion ; seuls les porteurs éligibles peuvent recevoir les documents confidentiels ou remettre leurs obligations. Le dépôt incorpore le communiqué de presse correspondant en tant qu'Exhibit 99.1 et contient des déclarations prospectives habituelles ainsi qu'une liste non exhaustive des risques, notamment l'approbation réglementaire, les risques d'intégration et de fidélisation de la clientèle, les coûts de la transaction, les litiges, les perturbations économiques et géopolitiques, les risques liés à la cybersécurité et à l'IA, et le résultat final des Offres d'Échange et des Sollicitations de Consentement.
Die Interpublic Group gab bekannt, dass Omnicom Tauschangebote eingeleitet hat, um alle ausstehenden Senior Notes von IPG gegen bis zu $2.95 billion Nennbetrag neuer von Omnicom auszugebender Notes und Barmittel einzutauschen, im Zusammenhang mit Omnicoms geplanten Erwerb von IPG gemäß dem Fusionsvertrag vom 8. Dezember 2024. Gleichzeitig fordert Omnicom im Namen von IPG Zustimmungen zur Änderung der Indentures, die die bestehenden IPG-Notes regeln, um bestimmte Covenants, einschränkende Bestimmungen und Events of Default zu beseitigen und andere Bestimmungen anzupassen.
Die Tauschangebote und Zustimmungsanfragen erfolgen auf Grundlage eines vertraulichen Angebotsmemorandums und einer Zustimmungsaufforderung und stehen unter dem Vorbehalt des Abschlusses der Fusion; nur berechtigte Gläubiger können die vertraulichen Unterlagen erhalten oder Notes anbieten. Die Einreichung enthält die zugehörige Pressemitteilung als Exhibit 99.1 und umfasst übliche zukunftsgerichtete Aussagen sowie eine nicht abschließende Auflistung von Risiken, darunter behördliche Genehmigungen, Integrations- und Kundenbindungsrisiken, Transaktionskosten, Rechtsstreitigkeiten, wirtschaftliche und geopolitische Störungen, Cybersecurity- und KI-bezogene Risiken sowie das endgültige Ergebnis der Tauschangebote und Zustimmungsanfragen.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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| Item 8.01 | Other Events. |
On August 11, 2025, The Interpublic Group of Companies, Inc. (“IPG”) and Omnicom Group Inc. (“Omnicom”) issued a joint press release announcing that, in connection with the pending transaction to acquire IPG contemplated by the Agreement and Plan of Merger, dated as of December 8, 2024 (the “Merger”), Omnicom commenced offers to exchange (collectively, the “Exchange Offers”) all outstanding senior notes (collectively, the “Existing IPG Notes”) issued by IPG for up to (1) $2.95 billion aggregate principal amount of new notes to be issued by Omnicom and (2) cash.
Concurrently with the Exchange Offers, Omnicom is also soliciting consents (collectively, the “Consent Solicitations”), on behalf of IPG, to amend the respective indentures governing the Existing IPG Notes to, among other things, eliminate certain of the covenants, restrictive provisions and events of default and modify or amend certain other provisions.
The Exchange Offers and Consent Solicitations are being made pursuant to the terms and subject to the conditions set forth in a confidential offering memorandum and consent solicitation statement, dated August 11, 2025, and are conditioned, among other things, upon the completion of the Merger.
A copy of the press release announcing the Exchange Offers and Consent Solicitations is attached hereto as Exhibit 99.1, and the information contained therein is incorporated herein by reference.
This Form 8-K is not intended to and does not constitute an offer to sell or purchase, or the solicitation of an offer to sell or purchase, or the solicitation of any vote of approval or the solicitation of tenders or consents with respect to any security. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Only eligible holders of Existing IPG Notes as described in the press release announcing the Exchange Offers and Consent Solicitations will be authorized to receive and review the confidential offering memorandum and consent solicitation statement and only such holders are permitted to tender Existing IPG Notes in the Exchange Offers and deliver consents in the Consent Solicitations.
| Item 9.01 | Financial Statements and Exhibits. |
| Exhibit |
Description | |
| 99.1 | Press Release of IPG and Omnicom, dated August 11, 2025, announcing the Exchange Offers and Consent Solicitations | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
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Forward-Looking Statements
Certain statements in this Current Report on Form 8-K (including the exhibits) contain forward-looking statements, including statements within the meaning of the Private Securities Litigation Reform Act of 1995. In addition, from time to time, Omnicom or IPG or their representatives have made, or may make, forward-looking statements, orally or in writing. These statements may discuss goals, intentions and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of Omnicom’s and IPG’s management as well as assumptions made by, and information currently available to, Omnicom’s and IPG’s management. Forward-looking statements may be accompanied by words such as “aim,” “anticipate,” “believe,” “plan,” “could,” “should,” “would,” “estimate,” “expect,” “forecast,” “future,” “guidance,” “intend,” “may,” “will,” “possible,” “potential,” “predict,” “project” or similar words, phrases or expressions. These forward-looking statements are subject to various risks and uncertainties, many of which are outside Omnicom’s and IPG’s control. Therefore, you should not place undue reliance on such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include:
| • | risks relating to the pending merger between Omnicom and IPG, including: that the merger may not be completed in a timely manner or at all, which could result in the termination of the Exchange Offers and Consent Solicitations; delays, unanticipated costs or restrictions resulting from regulatory review of the merger, including the risk that Omnicom or IPG may be unable to obtain governmental and regulatory approvals required for the merger, or that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the merger; uncertainties associated with the merger may cause a loss of both companies’ management personnel and other key employees, and cause disruptions to both companies’ business relationships and a loss of clients; the merger agreement subjects Omnicom and IPG to restrictions on business activities prior to the effective time of the merger; Omnicom and IPG are expected to incur significant costs in connection with the merger and integration; litigation risks relating to the merger; the business and operations of both companies may not be integrated successfully in the expected time frame; the merger may result in a loss of both companies’ clients, service providers, vendors, joint venture participants and other business counterparties; and the combined company may fail to realize all or some of the anticipated benefits of the merger or fail to effectively manage its expanded operations; |
| • | adverse economic conditions and disruptions, including geopolitical events, international hostilities, acts of terrorism, public health crises, inflation or stagflation, tariffs and other trade barriers, central bank interest rate policies in countries that comprise Omnicom’s and IPG’s major markets, labor and supply chain issues affecting the distribution of clients’ products, or a disruption in the credit markets; |
| • | international, national or local economic conditions that could adversely affect Omnicom, IPG or their respective clients; |
| • | losses on media purchases and production costs incurred on behalf of clients; |
| • | reductions in client spending, a slowdown in client payments or a deterioration or disruption in the credit markets; |
| • | the ability to attract new clients and retain existing clients in the manner anticipated; |
| • | changes in client marketing and communications services requirements; |
| • | failure to manage potential conflicts of interest between or among clients; |
| • | unanticipated changes related to competitive factors in the marketing and communications services industries; |
| • | unanticipated changes to, or the ability to hire and retain key personnel; |
| • | currency exchange rate fluctuations; |
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| • | reliance on information technology systems and risks related to cybersecurity incidents; |
| • | effective management of the risks, challenges and efficiencies presented by utilizing artificial intelligence (AI) technologies and related partnerships; |
| • | changes in legislation or governmental regulations affecting Omnicom, IPG or their respective clients; |
| • | risks associated with assumptions made in connection with acquisitions, critical accounting estimates and legal proceedings; |
| • | risks related to international operations, which are subject to the risks of currency repatriation restrictions, social or political conditions and an evolving regulatory environment in high-growth markets and developing countries; |
| • | risks related to environmental, social and governance goals and initiatives, including impacts from regulators and other stakeholders, and the impact of factors outside of Omnicom’s and IPG’s respective control on such goals and initiatives; |
| • | the outcome of the Exchange Offers and Consent Solicitations; and |
| • | other business, financial, operational and legal risks and uncertainties detailed from time to time in Omnicom’s and IPG’s SEC filings. |
The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties that may affect Omnicom’s and IPG’s businesses, including those described in Omnicom’s and IPG’s respective Annual Reports on Form 10-K and in other documents filed from time to time with the Securities and Exchange Commission. Except as required under applicable law, Omnicom and IPG do not assume any obligation to update these forward-looking statements.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| THE INTERPUBLIC GROUP OF COMPANIES, INC. | ||||||
| Date: August 11, 2025 | By: | /s/ Andrew Bonzani | ||||
| Name: Title: |
Andrew Bonzani Executive Vice President and General Counsel | |||||
FAQ
What did IPG announce in this 8-K (IPG)?
Are the Exchange Offers and Consent Solicitations conditional?
What changes are being requested to the existing IPG note indentures?
Who can participate in the Exchange Offers and receive the confidential materials?
What principal risks did the filing identify related to the transaction?
