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Opinion
Chris Hughes

Has the Activist-in-Chief Met His Match?

Normally it’s Paul Singer’s Elliott Management extracting sweeteners. But now it’s getting a taste of its own medicine in a $16 billion buyout bid.

Paul Singer, founder and president of Elliott Management Corp.

Paul Singer, founder and president of Elliott Management Corp.

Source: Bloomberg

No one likes to be pushed around in M&A — especially if, like activist fund Elliott Management Corp., you’re the normally the one forcing bidders to pay up.

Paul Singer’s Elliott, known for extracting sweeteners from buyers in contested takeovers over the years, isn’t used to getting squeezed. After partnering with Brookfield Asset Management on a deal to buy U.S. TV-ratings business Nielsen Holdings Plc for $28 a share in March, it’s getting a taste of its own medicine. WindAcre Partnership LLC wants a higher price. Led by Snehal Amin, co-founder of London-based activist fund TCI Fund Management, it says Nielsen’s “intrinsic value” is well over $40 a share.