Nielsen's $1.3B Arbitron Buyout Is A Flop, Shareholder Says

Law360, Wilmington (January 25, 2013, 8:22 PM EST) -- An Arbitron Inc. investor launched a putative class action Thursday aimed at stopping the announced $1.26 billion buyout of the radio ratings company by Nielsen Holdings NV, alleging the disjointed sale process favored the buyer and failed to maximize shareholder value.

Filed in Delaware Chancery Court by shareholder Joseph Pace, the complaint alleges that Arbitron's board breached their fiduciary duty by approving Nielsen's $48-per-share offer, claiming the deal announced Dec. 18 was conducted in slapdash fashion by a conflicted adviser.

“The proposed transaction is the product...
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