NLSN - Nielsen drops after rejecting $9B proposal from PE consortium (update)

Update 7:09am: Adds premarket trading. Nielsen Holdings plc (NYSE:NLSN) plunged 17% in premarket trading after it rejected a $9 billion, or  $25.40/share offer, from a private equity consortium, saying that it "significantly" undervalued the TV/Internet measurement company. Nielsen's board "unanimously determined that the consortium's offer significantly undervalues the company and does not adequately compensate shareholders for Nielsen's growth prospects," according to a statement. Nielsen also announced its intention to commence share repurchases under its previously approved $1 billion share repurchase authorization. The rejection followed reports last week that a consortium of Elliott Management and Brookfield Asset Management (BAM) were in advanced talks to purchase the company for $15 billion, including debt. Nielsen also said, in consultation with one of its biggest holders, WindAcre Partnership LLC, that the consortium offer would be "highly unlikely" to receive shareholder approval. WindAcre was asked to be part of the consortium, though it rejected the offer and said

For further details see:

Nielsen drops after rejecting $9B proposal from PE consortium (update)