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Hedge Fund Buys Nielsen Stake And Urges Company To Sell - Broadcasting & Cable

by broadcastingcable.com posted 9months ago 33 views
Investment company and hedge fund manager Elliot Management said it controls 8.8% of the shares in Nielsen worth $660 million and is urging the company to put itself up for sale. In a SEC filing, Elliott Management said that on July 26 it bought about 5 million shares of Nielsen for between $21.54 and $22.41. On that day, Nielsen made several announcements. It reported that it was launching a strategic review that could lead to a sale of its troubled buy-side unit; it reported lower second-quarter profits and it said CEO Mitch Barns was retiring.

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