Elliott made a play at $1.2 billion new debt at over 10% interest nielsen has to pay. New debt mean more ways to cut cost to show profit. Sign Elliott is ready to cash out and move on. When do we think the IPO will be?
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@ae "nobody knows what you're talking about" prob sent from a id--t kiss a-s manager
Looks like Kenny and company will have they pay day on the shoulders of all those that did the actual work and were fired or left. At this point I don't know why would anybody still work for these motherf----rs!
@dc Right on bud! With the existing debt load at 1.2-1.3bn per year to repay an additional few tens of millions is nothing and it gets the gold ol’ boys at Elliott paid for Xmas. The su**ers, the retail investors at IPO who will buy in the Nielsen 100 year old brand story will be laden with a large amount of debt, poor quality and demotivated or mediocre staff.
The PE playbook is alive and well.
@ae
The OP is saying Elliot told Nielsen to borrow 1.2 billion dollars and give that money to Elliot as a dividend. Nielsen now has to repay that loan at 10% interest.
This is common private equity tactic to extract "value" from subordinate company with no risk to parent company. Elliot and team will IPO Nielsen with tons of debt giving Elliot a clean wipe exit.
Nielsen is a company in decline and will likely be bankrupted by the PE tactics.
Nielsen IQ is ahead of Nielsen in the PE value extraction game. NIQ stock declined 35% since its IPO during a historic bully market. Elliot probably been short NIQ since IPO.
Nobody knows what you're talking about!