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LOS ANGELES The European Union today said it has approved WPP Group’s proposed $1.2 billion acquisition of Grey Global Group, removing a major hurdle for completion of the highly anticipated deal.
The EU Commission concluded in a statement that “the merger would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.”
The EU initially declared the proposal last fall as “incomplete … as certain information in relation to the media buying sector had not been included.”
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