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WPP Group’s $1.2 billion buyout of Grey is expected to be completed by early March, now that the European Union has approved the deal. Last week, the EU Commission determined the transaction would not impede competition within the European Economic Area. The EUC was originally set to rule on Nov. 26 but requested additional information in early December.
Grey shareholders must now approve the sale, which is considered a foregone conclusion given the fact Grey CEO Ed Meyer controls voting rights in the company.
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