The New York Post said Blackstone would drop out of the running, and that rival bidder Apollo Global Management was also losing interest.
That sale is no longer a foregone conclusion, says Credit Suisse analyst Kevin McVeigh, cutting his price target to a Street-low $23 from $27 (and seeing shares down to $19 in a scenario with no deal, even for Nielsen’s Watch unit).
That $23 target implies another 5% downside beyond the 9.5% drop today.
Nielsen had explored unloading its “Watch” segment last year before looking at selling the whole company, but a more competitive environment for Watch could crimp prices for it or Nielsen as a whole, McVeigh says.
Source: M A News on Seeking Alpha