Publicis' acquisition of Bcom3 remains on track for a mid-August close after clearing two hurdles last week.
One day after Publicis shareholders voted in favor of the $3 billion transaction, the European Union said it would not oppose the deal.
Bcom3 executives are now re sponding to comments from the SEC regarding its F-4 registration statement filed in May (Adweek, May 13). Once those are addressed, the final vote of Bcom3 shareholders will be scheduled.
"We're responding to their comments and expect to be in a position to issue the prospectus to our shareholders soon," wrote Bcom3 CEO Roger Haupt in a memo to shareholders. "We have every intention of meeting our re vised August/September time frame for closing the deal."
The holding com panies announced their plans to merge in March. The deal requires only a simple major ity ap proval from Bcom3's roughly 660 shareholders.
The deal will create marketing's fourth-largest holding company, with revenues of more than $4 billion annually. Tokyo-based Dentsu, which owns 20 percent of Chicago-based Bcom3, will have a 15 percent share in the merged company.