Nielsen raises its per share price offer for Harris Interactive
NEW YORK, NY – January 17, 2014 — Nielsen Holdings N.V. (NYSE:NLSN), its wholly-owned subsidiary, Prime Acquisition Corp., and Harris Interactive Inc. (NASDAQ:HPOL) today announced that the offer price for all outstanding shares of common stock of Harris Interactive has been increased from $2.00 to $2.04 per share pursuant to the terms of the merger agreement announced on November 25, 2013.
This increase in price is required by and entirely attributable to the final agreed upon average cash balance, less certain deductions, of Harris Interactive and its subsidiaries as specified in the merger agreement. Such cash balance was $2.18 million higher than the cash balance specified in the merger agreement, which resulted in a $0.04 increase in the per share offer price.
In accordance with the terms of the merger agreement and applicable securities rules, expiration of the offer has been extended until 12:00 midnight, New York City time, on January 31, 2014 (one minute after 11:59 P.M., New York City time, on January 31, 2014), unless the offer is further extended in accordance with the terms of the merger agreement. As of 5 p.m. on January 16, 2014, approximately 1.3 million shares have been tendered pursuant to the offer.
Harris Interactive stockholders who have already tendered their shares will receive the benefit of the increased offer price and need not take any action in order to do so. Except for the increase to the offer price and the extension of the expiration of the offer, all other terms and conditions of the offer remain unchanged.