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Mar 15, 2022

Brookfield to partner with Elliott for Nielsen take-private bid

Barry Schwartz discusses Brookfield Asset Management

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Brookfield Asset Management Inc. is part of a consortium that’s in talks to take information services company Nielsen Holdings PLC private, according to people with knowledge of the matter. 

Brookfield is working with Elliott Investment Management on the potential leveraged buyout, said the people, who requested anonymity discussing private information. A transaction could come together within the next week, one of the people said. 

Representatives for Brookfield and Nielsen declined to comment. A representative for Elliott didn’t immediately respond to requests for comment. 

The Wall Street Journal reported on Monday that a private equity consortium including Elliott was is in talks to acquire Nielsen for US$15 billion, including debt. Elliott owns a 4.6 per cent stake in Nielsen, according to data compiled by Bloomberg. 

Following Tuesday’s report, Nielsen shares turned positive and rose as much as 4.6 per cent. They closed up 2.5 per cent at US$23.42 in New York trading, giving the company a market value of US$8.4 billion.

New York-based Nielsen, led by Chief Executive Officer David Kenny, has been a leveraged buyout target previously. In 2006, a consortium comprising Blackstone Inc., Carlyle Group Inc., KKR & Co., and Thomas H Lee Partners acquired the company. It made a return to the public markets via a 2011 initial public offering. It’s also hived off parts of the company to private equity before.