Termination of Business Combination Agreement

12 Months Ended

Dec. 31, 2014

Termination of Business Combination Agreement [Abstract]

Termination of Business Combination Agreement

Termination of Business Combination Agreement

On May 8, 2014, the Company and Publicis entered into a termination agreement (“Termination Agreement”) under which the Company and Publicis mutually agreed to terminate their proposed merger in view of difficulties in completing the transaction within a reasonable timeframe. Under the Termination Agreement, the Company and Publicis mutually consented to terminate their Business Combination Agreement, dated July 27, 2013 (“Business Combination Agreement”), governing the proposed combination of the parties’ respective businesses, and mutually agreed to release each other from all claims, obligations and liabilities arising out of, in connection with or relating to the Business Combination Agreement. The Termination Agreement provided that no termination fee was payable by either party.