Nielsen Shareholder and Board Reject '$15 Billion' Bid

Nielsen's Board of Directors has opted 'not to proceed' with the unsolicited acquisition proposal reported last week from a private equity consortium, valuing the company at around $15bn. The decision follows major shareholder WindAcre's announcement that it would fight the deal.

Rumours of the bid surfaced on the Wall Street Journal just a week ago. A confidentiality agreement requested by the bidding Consortium permitted WindAcre to enter discussions about the possibility of joining it, and following discussions WindAcre informed Nielsen and the Consortium that it would not do so, and indeed would actively oppose the $25.40 per share transaction which it said undervalued Nielsen significantly - making it 'highly unlikely' to receive shareholder approval. The Board also made its own 'comprehensive review' of the proposal, which it said '[did] not adequately compensate shareholders for Nielsen's growth prospects'. The Board cited 2021 financial results, 'significant progress in new product development and MRC reaccreditation', and the impending launch of cross-media solution Nielsen ONE, which is said to be on schedule and potentially transformative.

Nielsen has also announced that when its trading window opens in late April it intends to commence share repurchases under a previously approved $1 billion authorization. Chairman of the Board James A. Attwood stated: 'We continue to have strong confidence in the management team and Nielsen's strategy to create long-term value for shareholders'.

Web site: www.nielsen.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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