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Warner Music likely to raise bid for EMI-analysts

Reuters.uk - May 22, 2007

Warner Music Group is likely to counter a $4.7 billion private equity buyout for long-sought rival EMI Group and turn what looked like a closed deal for the recording company into a new takeover battle, analysts said on Monday.

EMI said on Monday it agreed to the offer from Terra Firma, possibly ending a seven-year standoff with smaller competitor Warner Music. Both firms feared regulators would kill any deal.

Warner Music, the fourth-largest music company, is evaluating its options after Terra Firma offered to pay 2.4 billion pounds ($4.73 billion) or 265 pence a share in cash to buy No. 3 music group EMI, two sources close to the talks told Reuters.

Read Full Article from Reuters.uk

- Posted: 2007-05-22 09:50:27


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