Why Publicis and Omnicom Shares Have Fallen Over Past Month http://bit.ly/1dSATGi
Omnicom shares have dropped 7.5% since July 26, the last trading day before the companies announced a deal to create Publicis Omnicom Group, the world’s biggest agency company. Publicis over that period has fallen 6.7%.
Rival WPP, meanwhile, edged up 0.9%, and Interpublic Group of Cos. declined 1.4%. The Standard & Poor’s 500 index fell 3.4%.
Shares of Omnicom and Publicis initially surged July 29, the first day of trading after the announcement, with Omnicom reaching its all-time high and Publicis trading at its highest level since 2000. But by close of trading that day, both stocks had pulled back from those highs. And the stocks have dropped further since then.
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