The 45-day “go-shop” period for Nielsen has expired with no other offers on the table. During the period, Nielsen and its advisors actively solicited alternative acquisition proposals from third parties.
“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.
Nielsen representatives ultimately contacted over 30 parties, representing a mix of financial and strategic parties. Of such contacted parties, only one private equity firm executed a non-disclosure agreement with Nielsen. As of the May 12, 2022 expiration of the “go-shop” period, no alternative proposals were submitted.
The previously announced definitive agreement is to be acquired by a consortium of private investment funds led by Evergreen Coast Capital Corporation, an affiliate of Elliott Investment Management L.P., and Brookfield Business Partners L.P., together with institutional partners.
Consistent with the Transaction Agreement, Nielsen expects to file its preliminary proxy statement in connection with the related shareholder vote to approve the transaction on or around May 19, 2022.
The transaction remains 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.