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FTC Request for Information
The waiting period applicable to the pending acquisition under the US Hart-Scott-Rodino Antitrust Improvements Act will therefore now expire, unless terminated earlier by the FTC, 30 days after substantial compliance with the request for additional information. The companies intend to work diligently to respond to this request for additional information as promptly as practicable. Subject to completion of the Hart-Scott-Rodino process and satisfaction of other customary closing conditions contained in the definitive merger agreement, including Jupiter Media Metrix stockholder approval, the companies anticipate the acquisition will close in the first quarter of 2002.
At the end of October this year, it was announced that NetRatings had agreed to purchase Jupiter Media Metrix for US$1.95 per Jupiter Media Metrix share (subject to adjustment) in a combination of cash and shares of NetRatings common stock.
At the same time NetRatings also announced that it had agreed to purchase the 80.1% of ACNielsen eRatings, currently not owned for approximately US$16.4 million in a non-taxable transaction in which NetRatings will issue 1,256,000 shares. This transaction will allow NetRatings to streamline its international operations and consolidate its services under a global brand. The ACNielsen eRatings transaction is subject to customary closing conditions as well as completion of the Jupiter Media Metrix acquisition.
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