VNU accepts EUR 7.5bn buyout
8 March 2006, AMSTERDAM — The executive and supervisory boards of Dutch information and media company accepts EUR 7.5 billion buyout offer from a group of private investors.
8 March 2006
AMSTERDAM — The executive and supervisory boards of Dutch information and media company accepts EUR 7.5 billion buyout offer from a group of private investors.
It is unclear how VNU's rebellious shareholders will greet the deal, which comes to EUR 28.75 a share. This is slightly higher than the initial range of EUR 28-28.50 suggested when VNU opened talks with the group in January. Taking account of VNU's debts, Wednesday's offer comes to a total of EUR 8.6 billion.
VNU became a target for the private investors after shareholders rejected a decision by executives last year to take over US firm IMS Health last year.
CEO Rob van den Bergh announced his resignation at the time and this will come into effect once the takeover by the investors is complete. A shareholders meeting is scheduled for April and the takeover will likely be finalised in mid June.
VNU's board said in a press conference the consortium plans to run the company as it is. Analysts have suggested shareholders want to split up the company and benefit from selling off some division.
The company consists of three parts: ACNielsen, the largest provider of market information, Nielsen Media Research that studies viewing figures, and the Business Information division that publishes magazines.
[Copyright Expatica News + ANP 2006]
Subject: Dutch news, VNU