Finance History | 11 Wall Street — Three Agency Books Stopped and a Holding Book Printed OMC
· 1986-9
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Finance History | 11 Wall Street — Three Agency Books Stopped and a Holding Book Printed OMC
kevin
People treat Omnicom as a Park Avenue holding company that always printed OMC after a finished New York book.
The 1986 issuer was Omnicom Group, the holding company formed by the exchange-of-stock merger of BBDO International, Doyle Dane Bernbach Group, and Needham Harper Worldwide.
A contemporary Chicago Tribune report dated 7 June 1986 records that Omnicom was expected to be operational on 1 September 1986 after the shareholder meetings of the three agencies.
Omnicom's own 2006 annual report records that the holding company was formed in 1986 and that its revenues that first year were 754 million U.S. dollars in 1986 dollars.
The present tape is still OMC on the New York Stock Exchange.
The mechanism is a holding-company listing: three agency books combined, and the Big Board opened the new letters without a cash offer to the public.
The pin is the public Broad Street facade of the 1903 New York Stock Exchange building, the street marker for the tape that has printed OMC since that year.
Interior trading is not visitable from the sidewalk.
Photo: Arild Vagen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange from Broad Street.
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