Nielsen has received the necessary government regulatory approvals for its proposed acquisition by a consortium of private investment funds. Nielsen's shareholders are next to vote on the deal.
In March, Nielsen rejected an initial $25.40 per share bid from the consortium, led by Evergreen Coast Capital Corp, an affiliate of Elliott Investment Management, and Brookfield Business Partners, together with institutional partners. A week later, the same consortium made an improved bid of $28.00 per share, valuing the business at c.$16bn, which the Nielsen Board said represented an 'attractive outcome' for shareholders.
Proxy advisory firm Glass Lewis has recommended that shareholders vote for the proposal to approve the proposed transaction, after a recent report from Institutional Shareholder Services also recommended that shareholders vote in favor of the takeover. There will be two Nielsen shareholder meetings scheduled for August 9 - a 'court meeting' and a 'special meeting' - and the main business of these meetings is to vote on the proposed $28.00 per share deal.
Web site: www.nielsen.com .
All articles 2006-22 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.