Investing.com - TV ratings giant Nielsen Holdings slumped in midday trading Thursday on a report that Blackstone is pulling out of a bid for the company.
Blackstone has decided to not make a final offer due to Nielsen’s financial troubles, the New York Post reported.
Shares of Nielsen Holdings (NYSE:NLSN) tumbled nearly 10%, while Blackstone (NYSE:BX) inched up 0.1%.
Meanwhile, Apollo Group has also lost interest, the paper said. The lack of interest raises questions about whether the troubled ratings company will be sold eventually. The biggest issue is that the company’s stock price values it at roughly $9.4 billion, but its debt totals $8 billion, doubling the cost of a purchase.