Media measurement company Nielsen Holdings announced today that it has entered into an agreement with a consortium of private equity groups to be sold for $16 billion. The consortium is led by Evergreen Coast Capital Corp., an affiliate of Elliott Investment Management L.P., and Brookfield Business Partners L.P. along with institutional partners. The groups will pay $28 per each outstanding share of Nielsen.
“After a thorough assessment, the Board determined that this transaction represents an attractive outcome for our shareholders by providing a cash takeout at a substantial premium, while supporting Nielsen’s commitment to our clients, employees and stakeholders. The Consortium sees the full potential of Nielsen’s leadership position in the media industry and the unique value we deliver for our clients worldwide,” said James A. Attwood, Chairperson of Nielsen’s Board of Directors.
“We are pleased to invest in Nielsen, a market-leading company that is deeply embedded in the media ecosystem as a trusted service provider to its customers,” commented Dave Gregory, Managing Partner, Brookfield Business Partners. “Nielsen is well positioned to lead the industry into the next generation of audience measurement across all channels and platforms.”
“After months of deep market analysis, industry diligence and management reviews, we are firmly convinced that Nielsen will continue to be the gold standard for audience measurement as it executes on the Nielsen ONE roadmap,” said Managing Partner Jesse Cohn and Senior Portfolio Manager Marc Steinberg on behalf of Evergreen and Elliott. “Having first invested in Nielsen nearly four years ago, we have a unique appreciation for the Company’s ongoing relevance to the global, digital-first media ecosystem. Today’s outcome represents a significant win for Nielsen’s shareholders and for the business itself, as our multibillion-dollar investment will help Nielsen reinforce its transformation at this critical inflection point. We are pleased to partner with David and the existing management team to lead Nielsen after the transaction is completed.”
The deal is expected to close in the second half of this year, but still needs approval from Nielsen shareholders and regulators.
