VNU met last week with investors who expressed opposition to the company’s plan to acquire the U.S.-based health industry researcher for $6.9 billion. Investors representing more than 40% of the company’s stock have come out against the deal, according to the Financial Times.
Rob Garrett, founder-managing director of media investment bank AdMedia Partners, said VNU shareholders think the deal “may be a deterrent to a better stock price. A lot depends on how much strength shareholders have [to sink the deal] and how determined the board is to make it stick.”
Garrett added that he could see VNU selling off its b-to-b properties “because they’re ‘noncore’ ” to what is now primarily a research-based information provider.