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Nielsen owner WindAcre almost doubled stake to 18.9% (NYSE:BAM)

AWXII - Day 1

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Partner WindAcre, Nielsen (NYSE:NLSN) owner objected to TV measurement company sold to a private equity firm, almost doubling 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, according to a report. Filing 13 / D amendments from the end of Friday.

Earlier this week, WindAcre said it has a plan take steps to block the $28/share sold Television measurement company for Elliott Management and Brookfield Asset Management (NYSE:BAM). WindAcre said it can attempt to block the transaction by purchasing Nielsen securities, voting against the deal, communicating with shareholders or other third parties, and recommending corporate solutions.

WindAcre initially opposed Elliott and Brookfield’s earlier bid of $25.40/share to Nielsen and said it will oppose the agreement and use their efforts to block a transaction because they believe the intrinsic value of the company is good exceed $40/share.

Bloomberg reported on Thursday that WindAcre offered to back the deal if it received about another $1 billion in equity. WindAcre also asks for an option to transfer all or only part of its investment into the new company. But this structure was quickly disproved by Brookfield and Elliott.

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