This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The Deal: Nielsen Pockets $950 Million to Finance Arbitron Acquisition

NEW YORK ( TheDeal) -- Television ratings provider Nielsen Holdings NV said Monday it has a deal in place to sell its expositions business to Onex Corp. for $950 million, boosting its cash balance ahead of its planned acquisition of radio rater Arbitron Inc.

San Juan Capistrano, Calif.-based Nielsen Expositions produces more than 65 business-to-business trade shows and conference events annually, generating 2012 Ebitda of $97 million on sales of $183 million. The target employs about 240 people in four offices in the U.S.

Onex, of Toronto, said that its $4.7 billion Onex Partners III would invest about $350 million in equity into the purchase, including about $85 million from Onex as a limited partner in the fund. The deal is expected to close in the current quarter. Onex shares added 0.4% to close Monday at $49.80.

Onex managing director Kosty Gilis said in a statement that the private equity firm sees opportunities to expand Nielsen Expositions' existing shows "as well as select acquisitions."

"Nielsen Expositions' strength in the U.S. business-to-business trade show industry is evidenced by its high renewal rates, long-standing exhibitor relationships, and the brand strength of the underlying shows," Gilis said. Nielsen, which is based in Diemen, Netherlands, said it was selling the exhibition business in order to focus on expanding its core watch and buy segments.

"Divesting the expositions business allows us to focus on these core areas that provide our clients with a comprehensive understanding of consumers while providing more flexibility to return capital to our shareholders over time," company chief financial officer Brian West said in a statement.

The company in December announced plans to acquire Columbia, Md.-based Arbitron in a $1.26 billion deal that would extend its television ratings business to radio, though that deal faces an extensive review by the Federal Trade Commission, which has already issued a second request extending its review of the merger.

A Fried, Frank, Harris, Shriver & Jacobson LLP team of Christopher Ewan, David L. Shaw and Daniel J. Bursky advised Onex.

Written by Lou Whiteman in New York

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
OCX $3.32 0.00%
AAPL $94.02 0.00%
FB $104.07 0.00%
GOOG $683.57 0.00%
TSLA $162.60 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs