Consortium buys Nielsen for $ 10 billion

Nielsen Holdings

NLSN 20.31%

PLC agreed to sell the media-measuring firm to a group of private-equity firms in a deal worth about $ 10 billion. Following the failure of negotiations last week.

A consortium led by Elliott Management Corporation’s private equity division and

Brookfield Property Management Inc.

Nielsen said Tuesday it has agreed to pay the company $ 28 billion a share or $ 16 billion, including debt.

The Wall Street Journal reported earlier Tuesday that both sides were close to such an agreement.

Nielsen Was in advanced negotiation Purchase must go privately with the companies in a contract worth $ 25.40 per share. But Nielsen rejected the deal on March 20.

Houston-based investment firm WindAcre Partnership LLC now owns approximately 10% of the company, with an additional 14% through Swaps, which has said it will buy large enough shares to prevent the transaction if possible.

WindAcre announced the new deal in advance, but did not specify whether it would support it, sources familiar with the matter said. WindAcre declined to comment on Tuesday.

The new contract price represents a premium of about 60% on Nielsen’s share price, preceded by a deal in March, according to The Wall Street Journal. Nielsen shares then rose sharply and rose even after the talks fell. Shares of Nielsen rose 20% to close at $ 26.72 on Tuesday.

The deal includes full funding and a 45-day “co-shop” period, which allows Nielsen to receive offers from other bidders during that period.

Nielsen measures US TV ratings, which provide viewers’ ratings used by networks to sell business hours and confirm what advertisers have paid for them. Its grip is loosening as streaming steam and traditional broadcasting and cable TV lose audiences. Although the New York-based company has introduced measurements for streaming in recent years, it is still one of the many players in the industry.

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Elliott has held shares in Nielsen since 2018. Examine sales. The next year, Nielsen said it Remove part of its business Create two separate, public companies: Global Connect, a market analysis function that measures retail and consumer behavior, and major media businesses.

Global Connect was sold last year to Advent International Corporation, a private-equity firm, for nearly $ 3 billion, now known as NielsenIQ.

Based in Toronto

Brookfield

It has a presence in more than 30 countries and has approximately $ 690 billion in assets under management in alternative investment strategies such as purchases, real estate, infrastructure and private debt.

With about $ 52 billion under management, Elliott is best known for its aspiring investments, but has recently been active in private equity. Evergreen is doing this deal through its private equity division called Coast Capital Corp.

In January, Evergreen Beach Agreed with a partner Buy Cloud Computing Company

Citrix systems Inc.

According to Dealogic, this is the third major deal announced so far this year.

The Nielsen deal is one of the biggest deals ever announced this year. The slump in link volumes driven by market volatility has reduced the number of large contracts signed.

Write to Kara Lombardo at [email protected]

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The March 30, 2022 edition of ‘Nielsen Accepts $ 10 Billion Acquisition Attempt.’

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