Nielsen contacted more than 30 parties during go-shop, no bids made

BOSTON: Nielsen Holdings, which agreed to sell itself to a consortium of private equity firms, said on Friday that they had been in contact with more than 30 parties during the go-shop period but that no bids to buy the company submitted.

The consortium, which includes Elliott Management’s private equity unit and Brookfield Asset Management, offered in March to pay $ 28 per share for the TV rating company.

Nielsen had until May 12 to ask for a better offer and reported on Friday that only one party had signed a confidentiality agreement to take a closer look at the economy.

“After a thorough effort to investigate whether a higher and better bid for Nielsen could be obtained, the board has confirmed its view that the transaction with the consortium represents an attractive result for our shareholders,” said James Attwood, Nielsen’s chairman.

Nielsen collects viewer data over TV, radio and digital platforms used by advertisers and others to determine hours of prime time, but it has been under pressure as more people have switched to streaming entertainment.

Elliott, one of the world’s largest activist investors with $ 51.1 billion in assets, had driven Nielsen for a sale in 2018, forcing the market research firm to consider splitting into two listed companies a year later.

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