EMI set for fresh bid approach - report |
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Sun, 22 Apr 2007 18:25
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LONDON (Thomson Financial) - EMI Group PLC, the music group which last week set out a radical financial restructuring of the business, is braced to receive a fresh bid, according to the Sunday Times.The report says senior executives at US rival Warner Music are looking at mounting a third approach for their British rival, which is valued at 1.8 bln stg.At the same time, a number of private-equity groups, including Permira, are considering tabling offers, the newspaper claims.EMI has been in sporadic talks with US rival Warner Music since 2000, but further moves had been thought to be unlikely until the European Commission publishes its verdict later this year on a probe into the 2004 Sony-Bertelsmann recorded music merger.tf.TFN-Europe_newsdesk@thomson.commsc/gpCOPYRIGHTCopyright 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.
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Warner unlikely to come back with fresh EMI offer this week - report 