Nielsen will go private for $10.06 billion after a group of investment firms led by Brookfield Asset Management raised a rejected proposal days earlier.
The company accepted an offer of $28 a share, Nielsen said on Tuesday, a 60% premium to mid-March, when the talks first went public. Nielsen shares were up about 20% around 12:45 pm ET.
Earlier this month, Nielsen rejected an offer of $25.40 a share that had been made by the group. The proposal was led by Brookfield and the private equity unit of Elliott Management, a person familiar with the matter said on Tuesday.
Nielsen consolidates audience data across TV, radio and digital platforms, which is used by companies, such as advertisers, to determine prime time. The company, however, is under pressure as more cable TV customers switch to streaming content services.
As a privately held company, Nielsen will be better positioned to provide metrics on consumer behavior across channels and platforms, said Dave Gregory, managing partner at Brookfield Business Partners, which is investing about $2.65 billion in preferred shares of the company. Nielsen.
The transaction is expected to close in the second half of this year and is valued at $16 billion, including debt.
Activist investor Elliott had pressured Nielsen for a sale in 2018, forcing the market research firm to consider a split into two publicly traded companies the following year.
But the plan was scrapped in 2020, when Nielsen decided to sell its consumer data unit for $2.7 billion to elevate the focus on the media business.
Source: CNN Brasil
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