Elliott Asset Management disclosed an 8.4% stake in Nielsen Holdings this morning in a filing with the SEC that allows for activism. The new stake by Paul Singer’s fund was first reported by the Wall Street Journal. Elliott collectively has beneficial ownership of 18M shares of common stock constituting approximately 5.1% of the shares outstanding and combined economic exposure in Nielsen equivalent to 30M shares, constituting approximately 8.4% of the shares outstanding. Elliott “will seek to engage in a dialogue” with the company’s board and management “about numerous operational and strategic opportunities to maximize shareholder value.” Elliott will encourage Nielsen to “undertake a full strategic review of, and initiate a process to explore, the sale” of the company in full, in addition to the exploration of the sale of certain of its businesses or assets, including transactions in which the fund “may seek to participate and potentially engage in, as a purchaser or investor.” Shares of Nielsen Holdings are up 13%, or $2.78, to $24.75 in premarket trading.
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