Nielsen Holdings said it has received all of the necessary government regulatory approvals it needs to complete its plan to be acquired by a group of private equity funds led by Elliott Investment Management and Brookfield Business Partners for about $16 billion.
Shareholders will be able to vote on the $28 a share transaction at two meetings set for August 9.
The first meeting will be in England as required by British laws. The second meeting will follow in the U.S. in which shareholders will vote to execute the transaction. Shareholders will also be asked to approve the compensation plan for top Nielsen executives.
Nielsen also said that proxy advisory company Glass, Lewis & Co. recommended that shareholders vote in favor of the transactions. Institutional Shareholder Services, another proxy advisory firm, also came out in favor of the deal for shareholders. ■
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Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.