Nielsen late Wednesday announced a secondary public offering of 35 million shares of common stock, which would be sold by “certain existing shareholders” -- presumably its controlling
private equity backers -- and not the company itself, which will reap none of the proceeds.
Based on Nielsen’s current stock prices, the offering would raise more
than $1.1 billion. Nielsen shares closed the day Wednesday at $32.72 -- up 46 cents, or 1.4% on the day.
Nielsen said the selling shareholders will grant the
underwriters of the offering an option to purchase an additional 5.25 million shares. J.P. Morgan Securities LLC, Citigroup and Goldman, Sachs & Co. are acting as joint bookrunning managers of the