EMI & WMG – The Dance Continues
If Eric Nicoli thought that his rival’s private equity backers would take the money and run, he was clearly mistaken. – The Scotsman
According to sources close to the talks Eric Nicoli and EMI are about to again up their bid for The Warner Music Group from $31 to $33 per share.
Most analysts see a merger happening within the next two weeks, but it is still unclear who is doing the buying. Despite the signs coming from EMI some see indications that WMG will be the one doing the buying in letters of intent showing that several investment bankers would gladly underwrite a WMG purchase of EMI. Still others see a merger the likely conclusion.
Stay tuned for more play by play action.
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