Private-equity behemoth Blackstone Group has reportedly pulled back from bidding for market research & TV-rating company Nielsen Holdings.
The New York Post reported Thursday that Blackstone is no longer interested in making a final offer for Nielsen, due to what is perceived as the latter’s troubling balance sheet.
The Post mentioned that Nielsen’s current stock price of $26.63 per share values the company at around $9.4 billion, but it’s debt of roughly $8 billion pushes the cost to upward of $17 billion. Nielsen is reportedly struggling to hike prices for its consumer research reports.
Citing a source close to the situation, the Post mentioned that private equity firm Apollo Global Management, which has been reportedly kicking the tyres on Nielsen since late last year, is also apparently losing interest in bidding for the company.
According to the Post, a Nielsen spokeswoman said that the company will continue to review strategic options, including a separation of its business divisions, a sale of the whole group, or continuing to operate as a public independent company.