The Omnicom Group Inc., New York, which already owns Porter Novelli and Ketchum PR, entered into a letter of intent April 9 to buy Fleishman-Hillard to "create the largest global PR group."
Omnicom, a worldwide communications company, will buy Fleishman-Hillard, which was founded in 1946 and is employee-owned, in a cash and stock deal. The acquisition will result in the formation of a new group in St. Louis that will include Fleishman-Hillard and Porter Novelli International for combined 1997 sales of nearly $300 million. (Fleishman-Hillard, 314/982-1700)