NEWS5 February 2013
US — Nielsen is to voluntarily withdraw and re-file the notification of its plan to acquire Arbitron in order to give the Federal Trade Commission (FTC) more time to review the transaction.
Re-filing resets the clock on the 30-day review period granted by the Hart-Scott-Rodino Antitrust Improvements Act, giving the FTC until 8 March to decide whether or not to approve the deal.
Meanwhile, Arbitron has revealed that a putative class-action lawsuit has been brought against both it and Nielsen on behalf of Arbitron shareholders.
It accuses the directors of the radio ratings firm of having breached their fiduciary duties by failing to maximise shareholder value in the proposed sale.
Nielsen has said it will “defend the suit vigorously”.
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