Majority VNU shareholders accept €7.58bn buyout offer

05/22/06 - newratings.com

LONDON, May 22 (newratings.com) – VNU NV (VNU-EUR), the Dutch owner of market researcher ACNielsen, Sunday announced that the €7.58 billion ($9.69 billion) offer from a consortium of six firms, including Blackstone Group LP and Kohlberg Kravis Roberts & Co, was accepted by 78.7% of its shareholders.

The Haarlem, Netherlands-based company said that the shareholder acceptance of the bid has ended a year of uncertainty. VNU has been in confrontation with its shareholders for over a year over the deal, which earlier valued the world's largest market research company at €28.75 a share and had been raised to €29.50 ($37.15) on May 4. The group of buyout firms, formally known as Valcon Acquisition BV, declared that shareholders of the owner of the Nielsen TV ratings business have either tendered or committed 78.70% of the shares. The rest of the shares can be tendered by June 9, the company said. Valcon Acquisition intends to commence a formal legal proceedings to force other shareholders to sell their shares in order to delist VNU, shares of which were suspended from the Euronext Amsterdam exchange on May 19, as soon as possible.