Nielsen holder WindAcre sought extra $ 1 billion to back company sale – report (NYSE: NLSN)

AWXII - Day 1

D Dipasupil / Getty Images Entertainment

Nielsen (NYSE: NLSN) shareholder WindAcre said this week it would take steps to block the ratings giant’s company sale to private-equity concerns – but WindAcre offered to support the deal if it received about another $ 1 billion in equity, Bloomberg reports.

WindAcre has a 9.6% stake in Nielsen, and opposed the deal since it was a $ 25.40 / share bid from Elliott Management and Brookfield Asset Management (BAM -2.1%). It now says it’s looking to block the $ 28 / share deal as it believes the company’s intrinsic value is well over $ 40 / share. (Nielsen is currently trading at $ 27.50.)

During negotiations, though, WindAcre offered support for the deal if the PE buyers granted it that $ 40 / share private-company equivalent for each of its 86.5 million shares and options.

That would have meant an additional $ 1.1 billion atop the rough $ 2.4 billion valuation of its existing securities.

WindAcre also asked for an option to roll all or just a portion of its investment into the new company. But the structure was quickly rejected by Brookfield and Elliott, Bloomberg says.

Nielsen on Tuesday filed its proxy statement for the annual meeting scheduled for May 17.

D Dipasupil / Getty Images Entertainment Nielsen (NYSE: NLSN) shareholder WindAcre said this week it would take steps to block the ratings giant’s company sale to private-equity concerns – but WindAcre offered to support the deal if it received about another $ 1 billion in equity, Bloomberg reports. WindAcre has a 9.6% stake in Nielsen,…

Leave a Reply

Your email address will not be published.