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Merger Arbitrage Mondays: Nielsen Holdings To Be Taken Private


  • Nielsen Holdings to be acquired by a private equity consortium led by Evergreen Coast Capital Corporation, an affiliate of Elliott Investment Management.
  • We added Nielsen Holdings as potential deal in the works on March 14, 2022.
  • Nielsen has a 45-day "go-shop" period, during which it can actively solicit, evaluate and potentially enter into negotiations with parties that offer alternative acquisition proposals.
  • Looking for more investing ideas like this one? Get them exclusively at Inside Arbitrage. Learn More »

Nielsen Canada in Markham, Ontario, Canada.

JHVEPhoto/iStock Editorial via Getty Images

Merger activity increased significantly last week with six new deals announced and eight deals completed. There were 17 deals announced in the month of March, with a total value of $64.55 billion.

Nielsen Holdings (NYSE:NLSN)

Nielsen Holdings was founded in

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This article was written by

Asif Suria profile picture

I am an entrepreneur and investor with a focus on event driven strategies including merger arbitrage, spinoffs, (legal) insider trading, buybacks and SPACs. I was one of the earliest contributors on Seeking Alpha and started publishing here in 2005. For more than a decade I have been writing every week about M&A and interesting insider transactions. My work has been mentioned in Barron's, Dow Jones, BNN Bloomberg and other publications.  

I have been an active investor for more than two decades and my background in technology has helped me built tools that inform my investing process, especially as it relates to event-driven strategies that require updated data and processes. The focus on my Inside Arbitrage service is to provide investors with the right combination of tools and analysis to help them take advantage of strategies that can perform well across market cycles.  

Analyst’s Disclosure: I/we have a beneficial long position in the shares of FHN, TSEM, HTA, TGNA, BRG either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

Disclaimer: I have long positions in First Horizon (FHN), Tower Semiconductor (TSEM), Healthcare Trust of America (HTA), TEGNA (TGNA) and Bluerock Residential Growth REIT (BRG). Please do your own due diligence before buying or selling any securities mentioned in this article. We do not warrant the completeness or accuracy of the content or data provided in this article.

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Comments (9)

Naples Investor profile picture
The BRG deal is $24.25 cash plus a spin-off which they claim is worth $5.60 for a total of $29.85. The stock has been trading around $26.50 which suggests to me that the market assumes that the spin-off is worth about $2.25 and not $5.60. I suspect the real value is somewhere between $2.25 and $5.60 and therefore there is little arbitrage opportunity here. I was excited by the annualized return but I think that's fantasy. Glad I went to the website and read the press release.
Thank you again as always Asif. I enjoy reading your two articles every week.
Asif Suria profile picture
@chipb You are welcome. Thank you for taking the time to read them.
I don’t think the PBIP is all cash as your chart shows. Any update on SAFM?
Asif Suria profile picture
@DAVER1 You are right. PBIP is a cash plus stock deal. We fixed it in our Merger Arbitrage Tool and will get it fixed in this post. I haven't seen anything new on SAFM beyond speculation that the deal could be in trouble.
Great info and updates. Thanks..... Announced earlier is the date when ISBC will be officially owned by CFG. Must be too small for your list. But, it's happening.
Asif Suria profile picture
@AlieGee Thanks. Yes, we are tracking the acquisition of ISBC and the potential closing this week. The spread was so tiny that it did not make the list.
Do you consider biotech companies also? I have held GBT for a long time but recently noticed a lot of accumulation going on. Company has a FDa already approved drug and recently expanded approval now,
Asif Suria profile picture
@Chicagomary2 For the Merger Arbitrage Mondays series it is only companies that have signed a definitive merger agreement. We do cover other companies in Insider Weekends or our monthly newsletter if there is insider buying, stock buybacks or a spin-off. In other words, there has to be an event for us to look into the company.
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