(Bloomberg) -- Omnicom Group Inc. is in advanced talks to buy Interpublic Group in a deal that would would create the world's largest advertising firm, the Wall Street Journal reported, citing people with knowledge of the matter.
An all-stock transaction, which may be announced as soon as this week, would bring together two of the best known advertising and ad buying companies in an industry shakeup that underscores years of consolidation, the newspaper reported Sunday.
It would likely value Interpublic at between $13 billion and $14 billion, excluding debt, the Journal said. Interpublic had a market value of almost $10.9 billion as of Friday.
Representatives for Omnicom and Interpublic didn't immediately respond to requests for comment from Bloomberg outside regular business hours.
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