Omnicom Group Inc. (NYSE: OMC) and Publicis Groupe SA abandoned their $35 billion plan to create the world’s largest advertising company, saying they couldn’t overcome obstacles that slowed progress toward the deal’s completion.

The delays created uncertainty for shareholders, employees and customers, New York-based Omnicom and Paris-based Publicis said in a statement. Both companies’ boards voted unanimously to end the transaction, with no termination fees.

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