New York (December 19th, 2012) - Arbitron Inc. (NYSE: ARB), a media and marketing information services firm, is marginally lower in mid-day trading today after the seeing a huge rally in the previous trading session. ARB had surged on Tuesday after the company agreed to be acquired by Nielsen Holdings NV, the largest provider of television and viewership ratings.
Nielsen agreed to acquire ARB for $1.26 billion, or $48 per share. The offer price represents a premium of 26% over ARB’s closing price on Monday. ARB ended 23.63% higher in trading on Tuesday. In today’s trading, the stock is down 0.28% to $46.90 on volume of 1.47 million, which is more than double the daily average volume of 622,028.
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MEI Pharma Inc. (NASDAQ: MEIP), a development-stage oncology company engaged in the development of drugs for the treatment of cancer, is seeing a huge rally in mid-day trading today after the company announced closing of $27.5 million private placement and a 1-for-6 reverse stock split.
MEIP today said that it completed its previously announced private placement of common stock and warrants in a financing led by new investors Vivo Ventures and New Leaf Venture Partners. The gross proceeds from the private placement will be $27.5 million.
MEIP also announced that it effected a 1-for-6 reverse stock split. The reverse stock split decreased the number of shares issued and outstanding from around 27.2 million prior to the reverse stock split to 13.7 million following the split and the closing of private placement.
MEIP is currently trading 464.79% higher at $8.02 on volume of 40,613.
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