TV ratings group Nielsen Holdings shares climbed on Tuesday, after a consortium of buyers lead by activist investors Elliott Investment Management agreed to buy the company for $16 billion.
Private equity buyers, including Brookfield Asset Management and Elliott affiliate Evergreen Coast Capital Corporation will pay $28 a share for Nielsen – which, alongwith the group's debts, would lead to an enterprise value of $16 billion.
The Nielsen Board of Directors voted unanimously to support the acquisition proposal, which represents a 10% premium over the Consortium's previous proposal and a 60% premium over Nielsen's unaffected stock price as of March 11, 2022, the last trading day before market speculation on a potential deal.
"Nielsen is deeply embedded in the media ecosystem and a trusted service provider to its customers. As a private company, Nielsen will be even better positioned to deliver the best measures of consumers' rapidly changing behaviors across all channels and platforms," said Brookfield Business Partners' David Gregory. "We are pleased to invest in this iconic company and help lead the industry into the next generation of audience measurement."
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