The Dutch-owned media company (which has Kirkus, The Book Standard and the Hollywood Reporter in its staple) has agreed to an all-cash offer worth 8.6 bln eur, including debt, from a consortium of private equity groups, Reuters reports.
The consortium, comprising AlpInvest Partners, the Blackstone Group, the Carlyle Group, Hellman & Friedman, Kohlberg Kravis Roberts & Co and Thomas h Lee Partners, offered 28.75 eur per common share, or a total of 7.5 bln eur, and 13.0 eur per preferred share, a total of about 2 mln eur.
The publisher said the consortium intends to keep VNU together as an integrated company pursuing its existing long-term strategy.