Warner Music may make fresh takeover bid for EMI - report |
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Sun, 11 Mar 2007 16:44
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LONDON (AFX) - Warner Music Group may make another attempt to take over London-based rival EMI Group, according to a report.Warner chief executive Edgar Bronfman Junior is ready to meet EMI chairman John Gildersleeve to thrash out a fresh merger deal after EMI rejected a 260 pence per share non-binding proposal at the start of this month, the Observer reported.Bronfman is ready to sweeten the terms of his offer, but wants an assurance from EMI before talks begin that they would be prepared to consider a revised proposal, the newspaper cited Wall Street sources as saying.EMI has issued two profit warnings since the start of the year, as it struggles with poor sales from key artists such as Robbie Williams and the Beatles over Christmas, and weakness in the US market.philip.waller@thomson.compaw/cmlCOPYRIGHTCopyright 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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Warner unlikely to come back with fresh EMI offer this week - report 