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Valcon Succeeds in Quest for VNU

May 22, 2006  •  Post A Comment

The three-month battle for Nielsen Media Research parent VNU NV ended Sunday when a group of private-equity firms said in a statement that their 7.7 billion euro ($9.9 billion) bid for the company has prevailed.

Valcon Acquisition BV, the private-equity consortium, said in a statement issued Sunday that it had received 78.7 percent of VNU’s outstanding shares from shareholders, paving the way for the group to take control of VNU. The remaining shareholders have until June 9 to tender their shares. The private-equity firms involved in the purchase include AlpInvest Partners, The Blackstone Group, The Carlyle Group, Hellman & Friedman, Kohlberg Kravis Roberts & Co. and Thomas H. Lee Partners.

The tussle for control of VNU was a closely watched saga, marking the first time that shareholders launched a broad effort to thwart a private-equity bid that had been endorsed by VNU management. In the end, however, a sweetened bid from Valcon convinced enough shareholders to endorse the deal.