Its share price closed at $47.56 in New York last night, up by $2.87 or 6.21%, as investors reacted to its efforts to clear up the cloud surrounding its accounting practices.
In the investor presentation, Omnicom says that it has increased the amount it estimates it owes for acquisitions from between $250m (拢162m) and $350m to $376.5m. This is because of its system of paying for acquisitions by buying 30% and 70% of the company upfront, and owing the rest in earn-outs -- a system designed to keep high-level executives.
Omnicom, headed by president and CEO John Wren, also reassured investors on liquidity issues, saying it had "ample liquidity to meet all foreseeable business and capital requirements".
Omnicom also included new information in its presentation about its Seneca partnership, formed to house its struggling internet properties. It was the formation of this partnership that led to the resignation of a board member and later sparked a story in the Wall Street Journal.
In an interview recently, Wren said that Omnicom has "no skeletons in the closet".
"The integrity of this company, its management, its board of directors and its employees is paramount to everything we do, just as it always has been."
The company, which owns the advertising networks TBWA\ and DDB Worldwide, has seen its share price crash after a story in the Wall Street Journal about its accounting practices. Numerous class action lawsuits on behalf of investors have followed.
If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the .