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VNU Receives Buyout Bid
After weeks of speculation, VNU revealed today that it a private equity consortium has offered to buy the company for 28 to 28.5 Euros per common share. VNU says it is considering the proposal, and is not proceeding with discussions with any other party.
The company says it will 'fully and fairly evaluate what course of action will serve the best interests of VNU's stakeholders'. It is currently in discussions with the consortium, which consists of AlpInvest Partners, The Blackstone Group, The Carlyle Group, Hellman & Friedman, Kohlberg Kravis Roberts & Co., Permira and Thomas H. Lee Partners.
VNU recently abandoned plans to merge with IMS Health after objections from shareholders. In December, it announced that it expects its earnings per share and revenue growth for 2005 to fall below previous estimates, due to disappointing results in Europe, coupled with the costs of the aborted merger (www.mrweb.com/drno/news4954.htm )
A statement from the company stressed that there is no assurance that the current discussions will result in any transaction and, if so, at what price and with what conditions. It expects to provide further information in three to four weeks.
VNU, which owns ACNielsen and Nielsen Media Research, as well as several business information and publishing brands, is online at www.vnu.com.
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