Arbitron has set a date for its shareholders to vote on the $1.26 billion acquisition of the company by Nielsen.
The vote will be held April 16 at the St. Regis hotel, according to a proxy statement filed with the Securities & Exchange Commission.
If shareholders approve the deal and it actually closes, “each outstanding share of Arbitron common stock will be converted into the right to receive $48.00 in cash, without interest and subject to any applicable withholding tax,” according to the filing.
Arbitron President/CEO Sean Creamer asks shareholders to vote in person at the meeting, or by proxy, noting that not casting a ballot “has the same effect as voting against” the proposed deal.
Even if shareholders approve the arrangement, when the deal could close is unclear since the Federal Trade Commission recently asked Nielsen and Arbitron for more information. Apparently there’s some concern over whether the combined companies would constitute a monopoly in the emerging cross-platform measurement market, according to published accounts.