Nielsen, which has agreed to be acquired by a private-equity group led by Elliott Investment Management, said that its go-shop period has expired without an alternative proposal to buy the company emerging.
Under terms of its deal with Elliott, Nielsen had 45 days to reach out to other potential financial and strategic bidders. Nielsen’s advisors contacted 30 parties and only one was interested enough to signed a non-disclosure agreement to examine Nielsen’s books.
"After a thorough effort aimed at exploring whether a higher and better offer for Nielsen could be obtained, the board has confirmed its view that the transaction with the consortium represents an attractive outcome for our shareholders by providing a cash purchase at a substantial premium, while supporting Nielsen's commitment to our clients, employees and stakeholders," said James A. Attwood, chairperson of Nielsen's board of directors.
The acquisition by Elliott is subject to approval by Nielsen shareholders, regulatory approvals, consultation with the works council, and other customary closing conditions. If the closing conditions are met, the transaction is expected to close in the second half of 2022. ■
