This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

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

Stocks in this article: OCXARB

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

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,827.75 +12.81 0.07%
S&P 500 2,072.83 +5.80 0.28%
NASDAQ 4,787.3170 +29.0650 0.61%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs