WindAcre Companions, the Nielsen (NYSE:NLSN) holder who’s against the TV measurement agency’s sale to a non-public fairness consortium, nearly double its stake this week.
WindAcre raised its stake in Nielsen to 18.9% from 9.6% after buying about 33.4 million shares this week for about $912 million, in accordance with an amended 13/D filing from late Friday.
WindAcre earlier this week mentioned it deliberate to take steps to block the $28/share sale of the TV measurement firm to Elliott Administration and Brookfield Asset Administration (NYSE:BAM). WindAcre mentioned it may attempt to block the transaction by buying securities of Nielsen, voting towards the deal, speaking with different shareholders or third events, and proposing company resolutions.
WindAcre was initially against Elliott and Brookfield earlier $25.40/share bid for Nielsen and mentioned it would oppose the deal and use its efforts to dam a transaction because it believed the corporate’s intrinsic worth was effectively in excess of $40/share.
Bloomberg reported on Thursday that WindAcre provided to assist the deal if it obtained about one other $1 billion in fairness. WindAcre additionally requested for an choice to roll all or only a portion of its funding into the brand new firm. However the construction was shortly rejected by Brookfield and Elliott.