Is this allowed by Google?

Yes. If a website is in compliance with the program policies (http://www.google.com/adsense/policies ) and the each publisher has given you permission to display their ads on your site, you may place your ad code along with the other publisher's ad code on the same page. You will, however, need to contact the other publishers in order to obtain permission to display their ads on your website. Please keep in mind that a maximum of three regular ad units and one link unit may be placed on one web page. In addition, please be aware that every publisher is responsible for the content of a website on which their ad code is placed. If a website is found in violation of our program policies, we will notify any publisher(s) whose ad code is on the website, and ask you to remove the Google code from that page.
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