(Bloomberg) — Elliott Investment Management and Brookfield Asset Management Inc. are weighing a sweetened bid for Nielsen Holdings Plc after the information-services company rejected the previous offer, according to people familiar with the matter.
The bid being discussed would be higher than the last offer of $25.40, the people said, asking not to be identified because the matter is private. Details of the higher offer couldn’t immediately be learned, and talks could still fall apart.
Nielsen and Brookfield representatives declined to comment. An Elliott spokesperson couldn’t immediately be reached to comment.
Nielsen shares jumped in after-market trading on the news. Earlier, Nielsen shares gained 2.1% to close at $23.23 Tuesday in New York trading, giving the company a market value of about $8.4 billion.
One of Nielsen’s largest shareholders, Houston-based WindAcre had previously said it wouldn’t support the proposed transaction at $25.40 and that it planned to accumulate the shares needed to block the deal. WindAcre said earlier this week that Nielsen’s “intrinsic value” is more than $40 a share.
Founded in 1923 as a market-measuring firm, New York-based Nielsen provides audience data services to many of the media industry’s premier networks. Led by Chief Executive Officer David Kenny, the company had mixed results in adapting to the growth of streaming in the past decade.
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