US – Nielsen’s 45-day go-shop period has ended and no new proposals have been submitted, meaning the takeover of the multinational media company by a consortium of private investors will continue.
The 45-day period gave the board time to consider potential alternatives to its recent acquisition by a private equity consortium led by Evergreen Coast Capital Corporation and Brookfield Business Partners.
Nielsen’s board of directors voted unanimously to support the acquisition, which equates to a 10% increase over the consortium’s previous proposal and a 60% premium over the stock price. the company’s unaffected share as of March 11 this year.
Nielsen Chairman of the Board, James Attwood, commented on the expiration of the go-shop period.
“After a thorough effort to explore whether a higher and better offer for Nielsen could be obtained, the Board of Directors has confirmed its view that the transaction with the Consortium represents an attractive outcome for our shareholders by providing a purchase in cash with a substantial bonus, while supporting Nielsen’s commitment to our customers, employees and stakeholders.
The transaction remains subject to Nielsen shareholder approval, regulatory approvals, works council consultation and other customary closing conditions. If these conditions are met, the transaction should be finalized during the second half of 2022.