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Nielsen (NLSN) Paying $48/Shr To Acquire Arbitron (ARB)

 December 18, 2012 07:25 AM

(By Balachander) Arbitron Inc. (NYSE: ARB), a provider of marketing information services, agreed to be acquired by analytics company Nielsen Holdings N.V. (NYSE: NLSN) for $48 per share in cash.

The deal represents a premium of 26 percent to ARB's previous closing price of $38.04.

With the acquisition, Nielsen plans to further expand its "Watch" segment's audience measurement across screens and forms of listening.

"By combining Nielsen's global capabilities and scale with Arbitron's unique radio measurement and listening information, advertisers and media clients will have better insights into consumer behavior and the return on marketing investments," Netherlands-based Nielsen said.

[Related -Merger Arbitrage Mondays – June 3, 2013]

Nielsen expects the deal to add to its earnings by roughly 13 cents after the close and by around 19 cents 24 months after the completion of the transaction. It also expects Cost synergies related to the acquisition to be at least $20 million.

Based on the 12 months ended Sept. 30, 2012, Nielsen and Arbitron generated combined pro forma adjusted EBITDA of $1.7 billion and total revenue of $6.0 billion.

NLSN shares closed at $29.62 on Monday.

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