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VNU Open Letter Woos Shareholders
Following opposition this week to its proposed sale to a private equity consortium, MR and publishing giant VNU has published an open letter to shareholders in the Financial Times, the Wall Street Journal and Dutch daily Het Financieele Dagbald.
In it, the board says the plan is clearly 'superior to the alternatives' and that 'The all cash offer is the right deal at the right time for VNU.' It repeats it assertion that it has weighed other alternatives included the breaking up of the company into its business units - a claim questioned by 2% shareholder Knight Vinke Asset Management (KVAM) who earlier this week urged others to reject the offer. 15% shareholder Fidelity International has also expressed doubts about the deal, saying in March that it is unlikely to support it.
VNU is online at www.vnu.com
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