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NEW YORK and HAARLEM, The Netherlands -- The Nielsen Company (formerly VNU) and NetRatings, Inc. said yesterday they have entered into a merger agreement by which Nielsen, which already owns approximately 60 percent of NetRatings, would acquire the remaining shares of NetRatings at a price of $21.00 per share in cash, for a total purchase price of approximately $327 million.
The NetRatings board of directors approved the merger agreement following the unanimous recommendation and approval of an independent special committee of the NetRatings board of directors.
"This transaction will provide fair value to NetRatings shareholders while also allowing Nielsen and NetRatings to better coordinate their strengths for the benefit of our mutual clients," said David Calhoun, chairman and c.e.o. of Nielsen, in a statement.
The merger is expected to be completed in the second quarter of calendar year 2007, subject to customary conditions and approvals.
The Nielsen Company is a global information and media company, and is parent company of Progressive Grocer.
NetRatings, Inc. delivers Internet media and market research solutions, marketed globally under the Nielsen//NetRatings brand.