Starboard, WPP Look to Pare Down Stakes in ComScore
20 Luglio 2018 - 12:20AM
Dow Jones News
By Waverly Colville
Activist investor Starboard Value LP and advertising giant WPP
PLC (WPP) may sell more than 24.8 million shares in comScore Inc.
(SCOR), the media-measurement company said Thursday.
In a filing with the Securities and Exchange Commission,
comScore said Starboard-managed entities and a WPP subsidiary are
offering the shares at $21.48 each. In the offering, WPP would exit
its holdings in comScore while Starboard's stake would shrink to
less than 1%.
The sale fulfils comScore's contractual obligations with the
stockholders in connection with Starboard's private placement and
an agreement with WPP, the filing said.
ComScore said after the offering, about 71.4 million shares will
be outstanding.
ComScore shares were unchanged in after-hours trading at
$20.97.
Write to Waverly Colville at waverly.colville@wsj.com
(END) Dow Jones Newswires
July 19, 2018 18:05 ET (22:05 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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