Warner to make new EMI move - report |
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Published
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Sun, 04 Mar 2007 15:13
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LONDON (AFX) - Warner Music is expected to make a fresh approach to the UK's EMI after being rejected last week and could sweeten the deal by offering a break-fee clause in any future offer, The Mail on Sunday reported.The newspaper said this would mean that Warner could be liable to pay a considerable sum to EMI should any deal agreed between the two firms collapse as a result of regulatory issues.EMI last week rejected a takeover proposal valued at 260 pence a share, saying the price was not high enough and was worried about prolonged regulatory uncertainty and operational risk at a critical time.The company rejected a 320 pence a share offer from Warner last summer and another approach from Permira last year.rhys.jones@afxnews.comrj/wjCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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