The media and marketing research company Arbitron Inc. (ARB) Monday announced that, following informal discussions with the staff at the Federal Trade Commission or "FTC", Arbitron and Consumer information and measurement firm Nielsen Holdings, N.V. (NLSN) have agreed to voluntarily provide the FTC with additional time in which to review the proposed merger of TNC Sub I Corporation, a wholly owned subsidiary of Nielsen, with and into Arbitron.
Arbitron said that Nielsen, as the acquiring party, will withdraw and refile its pre-merger notification and report form under the Hart-Scott-Rodino Antitrust Improvements Act, which will restart the 30-day time frame for initial review of the transaction.
The waiting period for the new filing will expire at 11:59 p.m. on March 8, 2013, unless earlier terminated by the FTC, or the FTC makes a formal request for additional information prior to the expiration of the waiting period.
In December 2012, Nielsen Holdings had announced a definitive agreement to acquire Arbitron for $48 per share in cash. The deal was estimated to be valued at $1.3 billion. The offer price represented a premium of around 26 percent to Arbitron's closing price on December 17.
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