Nielsen Acquires Harris Interactive
November 25, 2013 at 8:24 AM (PT)
HARRIS INTERACTIVE, known widely for "The HARRIS Poll," has entered into a definitive merger agreement to be acquired by NIELSEN HOLDINGS.
Under the terms of the merger agreement, NIELSEN will commence a tender offer to acquire all of the outstanding shares of HARRIS INTERACTIVE's common stock through a wholly owned subsidiary formed for the purpose of making the offer. Holders of outstanding shares of HARRIS INTERACTIVE's common stock will receive $2 per share in cash, subject to adjustment as provided in the merger agreement. The $2 per share cash purchase price (which excludes any adjustment which may be required under the merger agreement) represents a 2.0% premium to the volume weighted average closing price of Harris Interactive's common stock in the 60 consecutive trading days prior to announcement of the transaction, and 8.7% below and 81.8% above the 52-week high and low, respectively.
"This announcement reflects the successful completion of the turnaround strategy that we began in JULY 2011 and will deliver to HARRIS INTERACTIVE stockholders meaningful value and liquidity immediately upon closing. HARRIS INTERACTIVE's board of directors selected the NIELSEN transaction after a thorough review of the company's strategic alternatives that began earlier this year," said HARRIS INTERACTIVE Pres./CEO AL ANGRISANI.
ANGRISANI added, "By combining NIELSEN's global capabilities and scale with HARRIS INTERACTIVE's extensive industry and research expertise, we'll be able to drive outcomes and innovate to bring new methods to understanding consumers around the world. We look forward to beginning an exciting new chapter for Harris Interactive, our customers, partners and employees following the transaction."
"For our existing CPG and media clients, our combined capabilities will provide better and more integrated insights to help them drive business outcomes," said NIELSEN Pres./Americas JOHN J. LEWIS. "HARRIS INTERACTIVE's strength with other industry verticals allows us to serve these clients with NIELSEN's differentiated solutions in areas such as marketing effectiveness, social and digital to achieve our growth objectives."