Nielsen Shares Surge As Large Shareholder Seeks Pact With Buyout Firms
variety.comBrian Steinberg Senior TV EditorShares of media-measurement giant Nielsen surged Tuesday after the purveyor of TV ratings said its largest shareholder reached an initial agreement to support a $10 billion buyout of the TV ratings company by a a group of private-equity firms.Nielsen said it had decided to delay a shareholder vote on a proposal that would have Elliott Management Corp.
and Brookfield Asset Management Inc. complete the agreement with WindAcre Partnership LLC, which had previously opposed the deal.
WindAcre owns approximately 27% of Nielsen’s shares.Under the preliminary agreement, WindAcre would join the group with respect to a portion of its shares and would receive $28 per share — the same price to be paid to all other shareholders — for its remaining shares.
Nielsen said “there can be no assurance that the preliminary agreement will be finalized,” but indicated it would supplement its recent proxy statement about the particulars of the deal to reflect the terms of the new pact.
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