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Alternative Market Briefing

Elliott Management supports Nielsen's separation into two companies

Friday, November 08, 2019

Laxman Pai, Opalesque Asia:

Market research firm Nielsen Holdings said it would split into two publicly traded companies as the market research firm pushes to increase shareholder value.

The split, which is backed by the activist hedge fund Elliott Management, sent the company's shares up 5% in premarket trading.

Nielsen, best known for its television ratings that are used to determine advertising rates for TV commercials, started exploring options from September last year after the activist investor urged a sale of the company.

Elliott Management Corporation, which manages two multi-strategy funds which combined have approximately $38 billion of assets under management, released a statement supporting Nielsen's separation.

In the statement, Elliott Partner Jesse Cohn supported Nielsen Chairman James Attwood, CEO David Kenny, CFO Dave Anderson, and the entire Board and management team on the Company's decision: "Separating into two companies represents the best path forward for Nielsen's business and its shareholders, and we believe it will lead to substantial value creation."

Cohn added: "By separating into two independent companies, Nielsen is better able to position both its media and retail measurement franchises for long-term success with differential investment, profitability, capital return, and strategic frameworks."

According to Nielsen, its Global Media business will cater to media and advertising clients, while Global Connect business will pr......................

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