The merger of advertising giants U.S.-based Omnicom and French firm Publicis has been scrapped. The deal would have seen the creation of the world’s largest advertising agency with a combined value of $35 billion. According to the companies’ respective CEOs, the issues were threefold: a lack of balance in deciding the executive team, difficulty harmonizing two strong corporate cultures, and the headache of marrying separate complex tax structures. The deal was expected to close in 2013.
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