Investor Group Buys VNU for $9.7 Billion
AMSTERDAM, Netherlands (BRAIN)—A group of private investors announced Sunday their 7.7 billion euro ($9.7 billion) bid for Dutch publishing company VNU has succeeded, according to the Associated Press.
The investors, who operate under the name Valcon Acquisition BV,
said that 78.7 percent of VNU's shareholders had tendered their shares to the offer price of 29.5 euros ($37.15) per share. The group had targeted 80 percent of shares, but said Sunday it would waive that condition.
VNU shares closed at 29.37 euros on Friday. Valcon said in a statement it will now begin formal legal proceedings to "squeeze out" remaining shareholders, forcing them to sell their shares, and delist VNU.
The consortium is comprised of AlpInvest Partners NV, The Blackstone Group LP, The Carlyle Group, Hellman & Friedman LLC, Kohlberg Kravis Roberts & Co. LP, and Thomas H. Lee Partners LP.
VNU owns Nielsen Media Research, ACNielsen and publishes many trade magazines, among them Billboard and Hollywood Reporter. It also owns the Interbike trade show and licenses Bicycle Retailer and Industry News to the National Bicycle Dealers Association.
The investors, who operate under the name Valcon Acquisition BV,
VNU shares closed at 29.37 euros on Friday. Valcon said in a statement it will now begin formal legal proceedings to "squeeze out" remaining shareholders, forcing them to sell their shares, and delist VNU.
The consortium is comprised of AlpInvest Partners NV, The Blackstone Group LP, The Carlyle Group, Hellman & Friedman LLC, Kohlberg Kravis Roberts & Co. LP, and Thomas H. Lee Partners LP.
VNU owns Nielsen Media Research, ACNielsen and publishes many trade magazines, among them Billboard and Hollywood Reporter. It also owns the Interbike trade show and licenses Bicycle Retailer and Industry News to the National Bicycle Dealers Association.
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