Elliott Associates LP and related entities are pushing Nielsen Holdings PLC to sell some properties or perhaps pursue a full sale of the company.
The investor group said it will ask the television-ratings company to initiate a strategic review of its business and explore the sale of certain businesses or assets, in addition to a full sale of the company. The group believes the securities of the company are undervalued and represent an attractive investment opportunity, according to an Aug. 13 SEC filing.
Elliott's entities have combined economic exposure in Nielsen equivalent to 30 million common shares, constituting roughly 8.4% of the shares of common stock outstanding.
The news comes after The Wall Street Journal, citing sources, earlier reported that multiple private equity firms have already have shown interest in buying Nielsen.
Disappointing quarterly results that led to revised downward guidance, a strategic review of its Buy segment and the year-end retirement of longtime CEO Mitch Barns recently led Wall Street analysts to lower their stock price outlook for Nielsen.