Nielsen shares get bad rating

March 21, 2022 Updated Mon., March 21, 2022 at 7:44 p.m.

SILVER SPRING, Md. – Nielsen shares tumbled 16% at the opening bell Monday after the TV ratings and marketing data company rejected a $9 billion takeover bid from a group of private equity firms.

Nielsen said the offer of $25.40 per share “significantly undervalues” the New York City company.

It said late Sunday that it had consulted with, among others, its third largest shareholder WindAcre Partnership, which opposed the sale at those terms.

WindAcre said Sunday it would acquire enough shares to scuttle the deal if the board went further.

Nielsen said shareholder approval was unlikely without support from WindAcre, which already owns a stake of more than 9%.

Powell warns Fed may move faster

WASHINGTON – Chairman Jerome Powell said Monday the Federal Reserve would raise its benchmark short-term interest rate faster than expected, and high enough to restrain growth and hiring, if it decides this would be necessary to slow rampaging inflation.

At their meeting last week, Fed officials raised their key rate from near zero to a range of 0.25% to 0.5% and forecast they would carry out six more quarter-point hikes this year.

Powell said that if necessary the Fed would be open to raising rates by a more aggressive half-point at multiple meetings and to push rates into “restrictive” territory that would limit growth.

From staff reports

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