TV Ratings Giant Nielsen to Be Sold to Private Equity Consortium for $16 Billion

thewrap.com:

Nielsen, the company best known for providing TV ratings, is being bought by a consortium in a deal worth $16 billion, including debt.The consortium is led by Evergreen Coast Capital Corporation, an affiliate of Elliott Investment Management L.P., and Brookfield Business Partners L.P.

together with institutional partners. The all-cash transaction includes $28 per share for a total value of aroundd $16 billion, which includes debt.The deal comes a week after one fell through with Elliott that was valued at $15 billion, but the company opted not to do a deal that valued their share price at $25.40.

The new deal is 10% greater than the consortiums previous offer.The Nielsen Board of Directors voted unanimously to support the acquisition, however it is subject to approval by Nielsen shareholders, regulatory approvals, and other closing conditions.

The deal also includes a 45-day “go-shop” period where Nielsen can look into other offers.“After a thorough assessment, the Board determined that this transaction represents an attractive outcome for our shareholders by providing a cash takeout at a substantial premium, while supporting Nielsen’s commitment to our clients, employees and stakeholders.