NLSN - Nielsen holder WindAcre said prepared to go to court over takeover

Nielsen (NYSE:NLSN) top holder WindAcre is said prepared to file a lawsuit if TV/Internet rating firm's takeover is changed to a tender offer. WindAcre, which earlier this week disclosed it increased it stake to 27%, is considering going to court in the U.K. and is likely to claim a "coercive tender squeeze out," according to a Dealreporter item, which cited three sources familiar. Nielsen is domiciled in the U.K. WindAcre has said it planned to take steps to block the $28/share sale of the TV measurement company to Elliott Management and Brookfield Asset Management (BAM). One UK-based lawyer told the publication that a transition to a tender off isn't unusual, questioning the legal grounds for a WindAcre challenge. WindAcre was originally opposed to Elliott and Brookfield earlier $25.40/share bid for Nielsen and said it would oppose the deal and use its efforts to block a transaction as it believed the company's intrinsic value was well in excess

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Nielsen holder WindAcre said prepared to go to court over takeover